The completion of title transfers on 2,060 acres representing$20.1 million will occur before the end of next month, Alico saysin a prepared statement. The remaining acreage representing $7.2million ($18,000 per acre or 41 cents per sf) will be transferredby the end of December 2002. The sale is expected to generate gainsof $25 million.

The original contract was announced in May, modified in Octoberand modified once again for the final sale. The land, currently acombination of cattle grazing range land and timber, is locatedjust east of I-75 between Southwest Florida International Airportand Florida Gulf Coast University.

"This is one of the largest tracts of land ever sold in thestate," Buigas tells GlobeSt.com. "I believe it will be one of themost significant factors driving the economy of Southwest Floridain the next decade."