Sep 3, 2021North Carolina potato farm fetches $25.7 million in sale
A chipping potato farm in Pamlico County, North Carolina, recently fetched $25.7 million in a sale.
McCotter Farm, a 4,528-acre collection of farmland, was purchased by Promised Land Opportunity Zone Farms I, according to brokers and advisors Murray Wise Associates, Kander and National Land Realty. It will be managed by Farmland Partners Inc.
“It is unique to find such a high quality specialty produce farm of this size anywhere in the USA today,” said Ken Nofziger of Kander. “Demand and values for farmland across different varieties and geographies have been increasing throughout the last couple of years and this sale just reinforces the strength of the current market.”
In addition to chipping potatoes, McCotter Farm also grows corn, soybeans and wheat. Pamlico County is located in eastern North Carolina near the Atlantic coast.