A group of over 30 African American families who owned 48 acres of land in Collierville, Tennessee, are celebrating the sale of the property in a historic multi-million dollar transaction. The land on Bailey Station Road had been in the family for over a century, and the small farmers had collaborated for more than two decades to secure the market sale.
The family frequently stated their satisfaction with the conditions of the agreement during a press conference and celebratory gathering attended by the town’s mayor and other local authorities. The family fought for a fair price and even fought eminent domain to keep the land from being seized by the government for 23 years.
Thomas Brown, head of the farmers’ group, told Fox 13 Memphis that they were once offered up to $2 per square foot even though the land was worth up to $10 per square foot.
But their patience has paid off. The land has now been officially sold to Orgill Inc., a hardware distributor. Orgill will use the land to build a $77.2 million Customer Concept Center which will be just a few miles away from headquarters.
An attorney who was representing the group said that several individual family members became millionaires because of the deal.