California vineyard sales, demand booming
A recent survey of land and farm data found 100,000 acres of vineyards in California with “For Sale” sign on them with a combined value approaching a half-billion dollars, according to one West Coast broker.
Jenny Heinzen Real Estate is a leader in the dealing of vineyard and winery properties. The Paso Robles, Calif.-based broker notes: “Despite the stresses of 2020, we’ve seen a significant upswing in demand for vineyard acreage and wineries and I saw encouraging signs of active grape buying during harvest. The wine industry sees growth through innovation and renewal and this is especially evident with the current robust vineyard sales activity.”
Calling the growing of grapes and making of wine “a promising arena,” Heinzen concludes: "There was a big planting boom in the 1990s and a lot of those vineyards are of the age where they need to be replanted, so it’s redevelopment time, a kind of replanting or selling opportunity for a lot of people. It’s an exciting time to see the next generation come forth and carry the industry on its next journey.”