CENTRAL VALLEY (Calif., July 17, 2019) – Cushman & Wakefield announced today the firm has been hired by Rancho Mountain Properties to bring to market for sale the Ashurst Ranch in California’s Central Valley. Primarily located in San Benito County, and extending into Fresno County, the 58,154-acre property is positioned in the heart of California’s cattle industry. Matt Davis, Terry Jackson and Curtis Buono of Cushman & Wakefield’s Agribusiness Solutions Team in San Diego in collaboration with Todd Renfrew of California Outdoor Properties are leading the marketing efforts for the disposition. The property is being offered at an asking price of $17.5 million.
Davis, Director, said, “Ashurst Ranch has a long history starting with John Ashurst, a pioneering California cattleman. In the early 1900s, the ranch played an integral role in the local community by supplying beef to the nearby mining town of New Idria. Today, the ranch provides fertile winter grazing and remains an integral part of California’s cattle industry.”
He continued, “All improvements are in place to support a cattle operation, while the property benefits from an extensive water system with storage tanks, troughs, springs and wells that provide livestock and domestic water for the ranch. There are also existing oil wells that may provide additional revenue.”
Located at 15970 New Idria Road in the unincorporated community of Paicines, approximately 60 miles south of Hollister, the 58,154-acre property consists of 27,944 acres of deeded land spread across 118 parcels, together with the added benefit of 30,210 acres of Bureau of Land Management (BLM) grazing leases split between two allotments referred to as Ashurst Ranch (12,406 acres) and Silver Creek (17,804 acres).
Davis noted, “To our knowledge, with 58,154 total acres, this offering also represents the largest offering currently available in the state of California.”
The ranch is fenced and cross fenced and provides a sizable carrying capacity reported to average 4,500 head of mixed herd of cows and feeders—the most recent season supported 5,100 head. The ranch also has numerous improvements including two houses, two mobile homes, two sets of corrals, loading pens, fencing, irrigation, and an unused dirt airstrip. The property also invites the opportunity for various recreational uses.
Jackson, Director, added, “The opportunity may exist for a new owner to make capital investments into the oil wells to enhance output and revenue. The oil resource is being managed by the seller, who intends to transfer any subsurface rights on the property they control to a potential buyer.”
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.