The Land Report

Winter 2010

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Page 13 of 67

A National Roundup of Rural Real Estate News PACIFIC Five Conservation Easements Net Tejon $15.8M Tejon Ranch (TRC) will sell five easements cover- ing some 62,000 acres of the 270,000-acre property to the California Wildlife Conservation Board. WEST Fluor CEO Lists Montana Getaway With Hall and Hall Alan Boeckmann has listed his 159-acre Flint Creek Range Retreat for $3.4M. Neighbors include U.S.F.S. Hall and Hall’s Bill McDavid is listing broker. GREAT LAKES Minneapolis Fed Reports Q3 Price of Farmland Spikes Bumper crop yields and high grain prices helped drive farmland values up 9% over Q3 2009. Prices in Minnesota alone were up a robust 12.3% NORTHEAST Financial Services Giant TIAA-CREF Goes Long on Land The asset manager took a controlling stake in the Westchester Group, which manages $1B in assets and 300,000+ acres of farmland. SOUTHWEST Chesapeake Sells 33% Stake in Eagle Ford Shale for $1B+ China state oil company Cnooc Ltd. to partner with CHK. The deal was Cnooc’s first to close in the U.S. since its failed 2005 Unocal bid. GREAT PLAINS Williams Companies to Acquire Bakken Shale Acreage for $925M Tulsa-based WMB to buy 86,000 acres in North Dakota’s oil-producing shale. The company also has a sizeable position in the Marcellus Shale. SOUTH State of Georgia Prepared to Acquire 9,595 Acres for $28M The Middle Georgia tract is part of 16,000 acres in Oaky Woods leased by the state. At $3,000 per acre, the cost is almost double the 2004 price. MIDWEST Farm Equipment Sales Jump 33% at John Deere Higher grain prices helped the Illinois equipment manufacturer (DE) beat the street and report record Q4 profits of $457M. COMPILED BY STEPHEN O’KEEFE, CFA 12 TheLandReport | WINTER 2010 LANDREPORT.COM

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