On September 18, Glaub Farm Management held an auction at Jonesboro’s Hilton Garden Inn to sell 648.53 +/- acres in Craighead County, Arkansas. The farm was auctioned for a combined $3,339,903 or $5,150 per acre. Of the total 648.53 acres, 563.33 are considered tillable, resulting in a price of $5,929 per tillable acre. The farm was split into three different tracts, giving the bidders the opportunity to buy the whole farm, individual tracts or a combination as desired.
A local farming family purchased Tracts 1 and 2, consisting of 229.98 acres and 176.19 acres, respectively, for a total acreage of 406.17 at $5,285 per acre. Together, the tracts contain 357.98 tillable acres, making the price of the tillable acres $5,997 per acre.
Tract 3 was purchased by a local investor. The tract contains 242.36 acres and was sold at a price of $4,923 per total acre. Of the 242.36 acres, 205.35 are considered tillable. The price of the tillable acres equates to $5,810 per acre.
GFM would like to thank the sellers for the opportunity to serve and successfully achieve our client’s goals and objectives.