Jones Potato Farm buys 777 acres of Palmetto land

BUYER: Jones Potato Farm Inc. (officers: David, Alan, Jean and Richard Jones), Parrish
SELLER: Real Property Holding — Manatee County FL LLC
PROPERTY: 13155 Grass Farm Road, Palmetto
PRICE: $6 million
PREVIOUS PRICE: $2.4 million, March 2011
LAW FIRM ON DEED: Shumaker Loop & Kendrick LLP, Sarasota

PLANS, DESCRIPTION:
Parrish-based Jones Potato Farm purchased the 776-acre former Pursley Turf Farm near Port Manatee for $6 million.

The price equated to $7,729 per square acre.

The property was previously purchased by a developer, for a project that never happened.

“We plan to use the majority [to grow] potatoes and green beans,” says Kevin Stanaland, chief financial officer for Jones Potato Farm. “We own another farm about three miles away. We will probably start planting out there in October.”

A family-owned company, Jones Potato Farm owns and operates thousands of acres of land where it produces a variety of potatoes, beans and citrus and raises cattle.

The farm mortgaged the property to Wells Fargo Bank National Association for $6 million.