The Land Report

Summer 2014

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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16 The LandReport | S U M M E R 20 1 4 A National Roundup of Rural Real Estate News COMPILED BY STEPHEN O'KEEFE, CFA LANDREPORT.COM G REAT LAKES $17.3M Easement to Protect 67,347 Acres in Wisconsin The state's DNR has extin- guished development rights on 100 square miles of forestland straddling the Mississippi and Great Lakes watersheds. GREAT PLAINS Waurika Farms Sells at Auction for $11M Hall & Hall Auctions sold the Drummond family's Oklahoma cattle opera- tion for $1,833 per acre, well above pre-sale estimates. SOUTH American Forest Management Buys International Forestry Consultants AFM currently manages 4.5M acres of privately owned timberland. The ac- quisition launches it into the Pacific Northwest. W EST Sporting Ranch Capital Management Debuts Jay Ellis will topline the Dallas-based private equity fund, which focuses on undervalued ranch properties across the Rocky Mountain West. SOUTHWEST Arizona Governor Vetoes Legislation Seeking Federal Lands The bill demanded Uncle Sam turn over title to 48,000 square miles of public lands. Jan Brewer respectfully declined. MIDWEST Farmland Values Continue to Climb in Seventh District The Chicago Fed reports that farmland values in this key agricultural belt continued their climb in 1Q. Complete details on pages 24-25. PACIFIC George Lucas Shelves Movie Studio Plans for Grady Ranch Despite great effort, the Marin County landowner failed to sway opponents of his studio. He saw more jobs. They saw more traffic. Everyone loses. N ORTHEAST Nantucket's Swain's Neck on Market for $59M The 1997 sale of the 68-acre estate to Russell Phelon set a New England record. Gary Winn at Maury People Sotheby's has the listing. A National Roundup of Rural Real Estate News COMPILED BY STEPHEN O'KEEFE, CFA GREAT LAKES Senate Scrutinizes Caterpillar's Overseas Tax Scheme Hearings chaired by Sen. C arl Levin (D-MI) looked into the shifting of profits to a Swiss subsidiary of CAT, saving the company $2.4B in U.S. taxes. GREAT PLAINS Green Plains Renewable Energy Ups Its Output Analysts are bullish on CEO Todd Becker's plan to buy underperforming ethanol plants cheaply. Expect GPRE earnings to double from $1.16 to $2.41. SOUTH Monsanto Blazes Trail For Big Ag Into Big Data Last year's $930M pur- chase of Climate Corp., a weather-data-mining company, signals a major shift for seed companies such as MON and SYT. WEST Supreme Court Sides With Landowners The 8-1 decision prohibits t he federal government from claiming rights of way to railway easements that are abandoned by railroad operators. SOUTHWEST Supreme Court Gives Texas Edge in Water Fight The high court granted the Solicitor General's motion to sit on the same bench as Texas in its suit against New Mexico over Rio Grande waters. MIDWEST Drones Shift From Battlefields to Farmer's Fields Companies such as AVAV are producing low-altitude cameras that enhance yields on vineyards, at orchards, and in the heartland. PACIFIC Flow of California Aqueduct Reversed to Counter Drought The Kern County Water Agency will reverse the flow of a 47-mile stretch to protect native species and fish. But will farmers survive? NORTHEAST Timberland Values Jump 9.8% Through March The resurgent U.S. h ousing market and strong overseas demand resulted in the best annual performance since 3Q 2008. 16 [2014.2] Market Watch_Layout 1 5/11/14 8:53 PM Page 16

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