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BRAZORIA COUNTY, TX-IP Farms Inc. has sold more than 700 acres to three investors in an ongoing disposition of 22,216 acres once used to commercially produce rice. The Chocolate Bay acreage is situated at the mouth of the Chocolate Bayou in the western quadrant of Brazoria County, southwest of Houston.

John F. Littman and B. Kelley Parker, both with the Houston office of Cushman & Wakefield of Texas Inc., conducted two sealed bids for the land. To date, closings have been held for 12,836 acres, Littman tells GlobeSt.com. The latest closings put 381 acres into the hands of investors Joe Salidino and Robert Goode and 333 acres under the control of Terrance Hlavinkia Cattle Co.

The Salidino-Goode acreage is situated at County Road 48 and Texas 288. Litman says they initially intend to use the land to grow rice, but the investment nature of the acquisition could bring a change down the road. The Terrance Hlavinka Cattle Co. also will be commercially producing rice on its land at FM 2917 and FM 2004.

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