Cushman & Wakefield Launches New Imperial Valley Ag Report

Cushman & Wakefield’s Agribusiness Solutions Team in San Diego has just launched a new report on the Imperial Valley Agriculture sector. This brand new Spring 2019 report recaps recent market sale activity and statistics, key and impacting trends, plus a team forecast.  This is the first of what will be a regular market report forward.

Imperial Valley Agriculture Market Highlights

2018 Market Recap

  • By all accounts, 2018 was another strong year for farmland sales in the Imperial Valley.
  • Investment funds made several major purchases in the Valley in 2016 and 2017, but this was not a factor in 2018 when local farmers dominated the buying activity.
  • In most other regions of California, SGMA’s groundwater restrictions are right around the corner in 2020; this is anticipated to make Imperial Valley’s reliable, affordable water and lower farmland prices even more attractive to both farmers and investors.
  • Value of total sales in 2018 was nearly 70% below 2017 levels while there were only 28% fewer transactions, indicating that average transaction size and value of the acreage was much lower than the previous year.
  • The market normalized in 2018 as expectations created by the significant investor assemblage in 2016 and 2017 cooled.
  • The Westmorland, Brawley, and Calipatria submarkets represented over half of the total acres and total value of farmland sold within the market.
  • Only one transaction had a value greater than $2,000,000 in 2018 compared to 14 transactions during 2017.

1Q19 Activity

  • Transaction value in the first quarter is up substantially from the previous year and equates to over 57% of the value transacted and almost 50% of the acres sold during 2018.
  • Holtville and Brawley submarkets saw the bulk of the transactions.

Download the full report: Imperial Valley Agriculture Report – Spring 2019

 

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

2019-05-10T14:33:26-04:00May 10th, 2019|In the News|