A California-based company bought about 6,000 contiguous acres of land in the Walla Walla area in a nationwide auction.
Farmland LP, formed in 2009, manages more than 12,500 acres in Northern California and in Oregon’s Willamette Valley. Based in San Francisco, California, the company’s goal is to add value to farmland by converting it to organic, sustainable agriculture.
Ahead of the sale, industry experts boasted about the land’s optimal elevations, tremendous air drainage, gradual slopes, a remarkable soil profile and abundant permitted water rights, which make it ideally-suited for the development of permanent crops, such as wine grapes, apples, blueberries and hops.
The property is northwest of Touchet, straddling Highway 12, about 20 miles from Pasco.
“We appreciate the strong interest the Weidert Farm garnered from investors and local farmers,” said Steve Bruere, president of Peoples Company, a land brokerage, land management, land investment and appraisal firm based in Iowa. “Farmland LP’s commitment to sustainable agriculture and land management makes them an ideal buyer for this exceptional piece of property that has enormous potential.”
Bruere said that several competitive offers were submitted before the Nov. 10, 2017, deadline, but Farmland LP’s offer stood out. “A competitive offer is important, but Farmland LP’s vision for the property in the future is what set it apart from other interest,” he said.
The terms of the offer are not being released. The sale is expected to close in the months ahead.
The property is owned by Tim and Jennifer Weidert of Pendleton, Oregon.
More information about Farmland LP can be found at www.FarmlandLP.com.