Blue Ridge Real Estate Company (OTC Pink: BRRE) announced today that the Company closed on the sale of 284 acres of land located along Route 940 in Blakeslee, PA to Exeter Industrial Drive Route 940 Land LLC for the construction of a logistics and distribution center in Carbon County. The proceeds from the sale are to be used for general corporate purposes. "This sale is part of Blue Ridge's strategy of unlocking the value embedded in the Company's natural resource portfolio and accretively redeploying capital to maximize shareholder value," said Bruce Beaty, Blue Ridge's President and Chief Executive Officer.

About Blue Ridge Real Estate Company

Blue Ridge is engaged in real estate development and land sales. At October 31, 2020, the properties of Blue Ridge and its subsidiaries consisted of approximately 9,700 acres of land located in the Pocono Mountains of Pennsylvania. Income is derived from these lands through leases, selective timbering by third parties, sales and other dispositions. For additional information on Blue Ridge, please visit the Company's website at www.brreco.com.