The Burns Tract in Stockton Sold
SAN DIEGO – January 25, 2013 – Cushman & Wakefield announced today the sale of the Burns Tract at 9009 Howard Road, Stockton, CA.
Cushman & Wakefield’s San Diego-based team, The Land Group, led by Matt Marschall, Curtis Buono, Terry Jackson, and Matt Davis, represented the seller, Union Properties, Inc. The buyer, Vital Farmland, LP, intends to continue agricultural operations on this productive farm asset.
The 4,239 acre property was listed for $32 million and is located in the Sacramento – San Joaquin River Delta on Union Island. The property generated significant interest and sold approximately six months after The Land Group began their aggressive national and global marketing campaign.
The Burns Tract was one of the largest investment quality Delta region farms to become available for purchase in many years. Additionally, the farm’s fertile soils, riparian water rights, proximity to distribution infrastructure, and long history of crop production made it an extremely rare and valuable farm acquisition opportunity.
Cushman & Wakefield is the world’s largest privately-held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917 it has 243 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.