Think you should be looking at the raw land listings.
Land Sale No. 1 (2010)
400 acres sold for $12,150,000.
Land Sale No. 2 (2014)
9,424 acres sold for $50,000,000.
Land Offer No. 3 (Offered 2012)
2,700 acres offer for $20,000,000 accepted but didn't close.
***Developing master-planned community with infrastructure and amenities. The site that sold is undeveloped with all available utilities
Etc...
Something a little closer to the acreage of Procon's land would probably be Land Sale No. 7 (Ish).
4,243 acres selling for $39,491,000.
So... The whole "as is" appraisal of Procon's raw land being $42 million, makes sense.
