Nolan Ryan Pitches the Perfect Investing Game

Cheap and close. Those are the two criteria you use when you’re looking to buy land and you make only $7,000 a year. At least those were the two Nolan Ryan used back in the 1960s when he began buying ranchland in Gonzales County, Texas.

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Sold! Washington’s Hunt Ranch

A spectacular 15,548-acre tract on Washington’s  Columbia River in Douglas County sold for $5.5 million on September 28. Known as the Hunt Ranch, the original plan was for the family-owned property  to be divided and sold in 31 tracts by J.P. King Auction Company, but it went instead to a single buyer, who stepped up before the bidding began and acquired it in its entirety.

“Since Hunt Ranch was a third-generation family property, we were excited to be able to sell it to a single owner and keep the property intact,” said Craig King, president and CEO of J.P. King Auction Company. “Land is a great investment. It will always be in demand, and its availability is decreasing.”

Given the historic nature of the impressive parcel, it was a coup for both buyer and seller. “The property is quite diverse,” said Rusty Hunt. He and his father had added additional acreage since his grandfather’s initial purchase of the property. “It looks over the Columbia River and the Cascade Mountains, and it features everything from flat plateaus to lakes and meadows.”

In addition to breathtaking views, the property includes barns, sheds, silos, and two newly remodeled farmhouses. Wheat is currently being grown as the property’s principal crop. The ranch also has FSA contracts, which the new owner has the option to maintain, and its abundant wildlife  includes grouse, mule deer, ducks, geese, quail, and dove.

Ted Turner Tops the 2010 Land Report 100

This year marks the fourth time The Land Report has presented the top 100 landowners in the country. And it also marks the fourth time that Ted Turner has topped our list. In 2010, Turner added to his chart-topping 2 million-plus acres by acquiring Nonami Plantation near Albany, Georgia. The acquisition is a notable one because Nonami ranks as the largest property for the entrepreneur, environmentalist, philanthropist, and media mogul in the state where he was raised.

Nonami Plantation adds 8,800 acres to the 15 ranches Turner owns in seven states, and it is considered one of the finest quail hunting venues in the Peach State. Turner purchased the plantation from a longtime business associate, Atlanta developer Tom Cousins, in a private transaction.

“Tom and Ted have been good friends for many years,” says Turner spokesman Phillip Evans. “From what I understand they made a gentlemen’s agreement years ago. If Tom ever decided to sell, Ted would get first option to purchase the property. They both appreciate what a special piece of land it is.”

Much of the property is already under a conservation easement. “As with all of Turner’s land, Nonami will be managed in an environmentally and ecologically friendly manner,” Evans adds.

Turner’s record as a landowner proves that he is nothing if not dedicated to running his holdings in a way that promotes the conservation of both the land itself and native species. In particular, Turner is known for his conservation of buffalo.

His 50,000+ is the world’s largest private herd. He recently offered to shelter 87 bison from Yellowstone National Park for five years as part of an experiment by the Montana Department of Fish, Wildlife and Parks to establish a free-roaming herd free of brucellosis and other diseases that can spread to cattle. After the five years, the bison will be returned to the State of Montana, and Turner will keep a percentage of the herd’s offspring.

Innovative solutions to ensure the continuation of endangered species are but one facet of Turner’s stewardship philosophy. Another lies in clean, renewable energy. In January 2010, Turner Renewable Energy partnered with Southern Company to develop renewable energy resources on his properties as well as off. Their first project, New Mexico’s Cimarron Solar Facility, will be one of the nation’s largest photovoltaic plants, generating enough energy to supply 9,000 homes with electricity. Cimarron, which is scheduled to begin commercial operation in late 2010, is located next to Turner’s Vermejo Park Ranch, the largest privately owned ponderosa pine ecosystem in the nation.

The Cimarron plant is yet another example of how Turner backs up his opinions with concrete action. He has been increasingly vocal about his belief that the United States should move toward more sustainable forms of energy, and he has gone as far as to lobby Congress on renewable energy and climate issues. It goes hand in hand with his desire to use his clout and his land to make the world a better place for his—and our—children and grandchildren.

Download the 2010 Land Report 100 HERE.

Going, Going, Gone!

Land Report Auctions is open for business.

“We wanted to develop a targeted, one-stop-shop website dedicated to land auctions for our Land Report readers. We have established ourselves as the voice of an asset class, and it’s our goal to have all of our products — from our print magazine to our electronic newsletter — to be a direct benefit to those who follow The Land Report,” says Publisher Eddie Lee Rider.

The decision to develop Land Report Auctions was based on the growing popularity of acquiring land at auction. “The land auction business is doing great. More and more people are coming to auction,” says William Bone, president of National Auction Group in a recent issue of the Magazine of the American Landowner.

“The market for land is very liquid,” Bone adds. He credits this surge to investors who have withdrawn funds from shaky equity markets and are restructuring their portfolios to include land.

“The optimism is back in the market, especially for higher-quality land,” Rex Schrader of Schrader Auctions says.

Soft-launched in August, Land Report Auctions is now live and presently undergoing beta testing by many auction companies.  The Land Report will be heavily promoting the new dedicated land auction site via its award-winning print publication, at LandReport.com, in the magazine’s monthly e-newsletter, at consumer and industry trade shows, and through targeted email-blast campaigns and with traditional SEO efforts.

Land Report Newsletter October 2010

The Land Report 100!

Our signature study featuring the Top 100 American landowners is the focus of this issue of our monthly newsletter, but it’s just one of the many topics to be covered, including recent sales, upcoming auctions, and important developments by policymakers with regard to owning land.

Feel free to forward the October edition of The Land Report’s monthly newsletter to colleagues as well as those interested in investing in land.

P.S. Our award-winning quarterly magazine is available in a print version by subscription.

Louis Bacon Adds Historic Orton Plantation to Land Holdings

A successful hedge fund manager and dedicated conservationist, Bacon’s 202,000± acres earned him No. 40 on the 2010 Land Report 100. Earlier this year he increased land portfolio when he acquired the historic Orton Plantation in North Carolina. Bacon is a direct descendant of Roger Moore, who built the original Orton residence in 1725 and the plantation home in 1735. Bacon also owns the sprawling 171,000-acre Trinchera Ranch in Colorado and Robins Island and Cow Neck Farm in New York.

Download the 2010 Land Report 100 HERE.

Amazon.com Founder Bezos Shoots for the Stars

Amazon.com founder Jeff Bezos, whose 290,000 acres ranks No. 27 on the 2010 Land Report 100, was inspired by the wide open West Texas skies he remembered from boyhood summers on his grandfather’s ranch. About seven years ago, he began purchasing large tracts of land in Far West Texas near El Paso. Ranchers were a bit surprised when their new neighbor explained his goal: to build a spaceport for his private sub-orbital space exploration venture, Blue Origin.

Last year, the company was awarded $3.7 million in funding from NASA for development of future human spaceflight operations. Tests fights have launched successfully at Bezos’s Corn Ranch, and there are plans to launch unmanned flights next year, with manned flights in 2012.

Download the 2010 Land Report 100 HERE.

King Ranch Continues to Demonstrate Leadership

For more than 150 years, King Ranch has proven its leadership as a steward of the land, but resting on their laurels is not a common attribute of Captain Richard King’s descendants. Today, King Ranch Inc.’s land holdings total 911,215 acres, which puts its firmly at No. 7 on the Land Report 100.

In the last century, King Ranch produced the first registered American Quarter Horse and a Triple Crown winner. It has leveraged this storied heritage into a nationally recognized brand—not the kind just seen on cattle but the kind visible on Ford trucks. Today, King Ranch is committed to a wide-ranging number of endeavors, including the King Ranch Institute for Ranch Management at Texas A&M Kingsville and the Caesar Kleberg Wildlife Research Institute, as well as programs for environmental stewardship and brush management. And don’t overlook the cattle that wear the Running W brand. The ranch that produced the Santa Gertrudis, aka first breed of cattle in the U.S., also developed a new composite breed of cattle, the Santa Cruz.

Other operations include its majority-owned interest in the largest citrus producer in the U.S., Consolidated Citrus Limited Partnership; a 60,000-acre farming operation in South Texas; sugarcane and vegetables in Florida; one of the country’s largest pecan shelling operations; the largest turfgrass operation in the State of Texas; a John Deere dealership; and the world-famous King Ranch Saddle Shop, a retail store, catalog, and Internet website specializing in high-end leather goods.

Download the 2010 Land Report 100 HERE.

Sold! The Bell Ranch

On August 17, Liberty Media CEO John Malone bought the 290,100-acre Bell Ranch, an event that qualifies as the largest single ranch sale since Ted Turner bought Vermejo Park from Pennzoil in 1996.  Price and terms on the $83-million listing were not disclosed.

Odds are you already know New Mexico’s Bell Ranch. At 453 square miles, it’s kind of hard to overlook. But to focus on size alone is to overlook a much richer story. The Bell has been featured in countless Westerns and dramatically depicted on millions of Stetson hatboxes. If you’re old enough to remember when tobacco companies could advertise, the ranch’s mesas and pastures were the timeless backdrop in many a Marlboro print campaign. Few venues epitomize the American West like the gorgeous grasslands, stunning mesas, and rugged rimrock canyons surrounding the distinctive bell-shaped mountain a short ride north of the Canadian River.

The Bell Ranch is a place of lore and legend whose contemporary history dates back to an impossibly large land grant of some 656,000 acres by the Mexican government to Pablo Montoya in 1824. Only the hills know how long the Comanche, the Kiowa, and the Apache made camp along the banks of La Cinta Creek before the Spanish army officer petitioned Mexico City for his lands.

Almost two centuries have passed since Don Pablo took title to more than 1,000 square miles of what eventually became the New Mexico Territory. Its ideal setting—the ranch ranges in elevation from 4,200 to 5,600 feet above sea level—is more reminiscent of the African Serengeti than the Great Plains or the Llano Estacado. Top-notch cowmen such as the pioneering trailblazer Charlie Goodnight have long marveled at the ranch’s plentiful waters, its protein-rich grasses, and the temperate climate. The lure of this remote cattle kingdom is so strong that the Bell has enticed five formidable men to commit themselves to shepherding the ranch since 1933: Albert Mitchell, George Ellis, Don Hofman, Rusty Tinnin, and Bert Ancell, the general manager, who had 41 years of experience on the Bell. Half a dozen hands with an average of 15 years service on the Bell worked with Ancell.

This peerless legacy is one of the many priceless assets that make the Bell more than simply another big spread. Take, for instance, the ranch’s horse breeding program, which can be traced back to a remount herd used by the U.S. cavalry almost a century ago. The ranch has also developed a closed composite breed of cattle. Known as RedBell, the breed consists of carefully selected Red Angus and Hereford bloodlines, plus smaller percentages of Brahma and Gelbvieh. And of course there is also the ranch’s iconic one-iron brand. First registered in San Miguel County in 1875, it has been in continuous use ever since.

After more than a century in operation, the Bell was carved into six tracts and parceled off after the end of the Second World War. But for William Lane II, its legacy would have ended with this dissolution. In 1970, the chairman and chief executive of General Binding Corporation purchased the 130,000-acre headquarters tract near the center of the Montoya Grant, and over the next six years he dedicated himself to rebuilding the great ranch. Ultimately, he acquired a total of 290,100 acres, an astounding 44 percent of the original grant.

Lane and his family also put in place improvements that dramatically enhanced beef production. Seven large operating units are cordoned off by 342 miles of fence and connected by 530 miles of interior roads. Ninety miles of pipeline water 206 stock tanks and 117 wells and windmills. The end result is a world-class working cattle ranch that can support 5,000 animal units.

In 2006, the Lane family began its quest to find another steward for the Bell. Several leading brokerages marketed the property, including Mason and Morse Ranch Company and Orvis Cushman & Wakefield. But the Great Recession took its toll. The original asking price of $110 million was lowered to $99 million and then to $83 million in 2010 (not including livestock).

The one constant throughout this process was Patrick Bates of Bates Sanders Swan Land Company, who was brought on to consult for the Lane family in 2006; by 2010 he was the broker of record. In March, Ron Morris of Ranch Marketing Associates contacted him. Like Bates, Morris is a veteran ranch broker with an impressive C.V. His client was none other than John Malone, Liberty Media’s CEO and one of the most respected stewards of the land in Rockies. A new chapter in the history of the Bell was about to begin.

Download the 2010 Land Report 100 HERE.

Kroenke Ranches Cracks the Top Ten

Football fans already know that Stan Kroenke became the majority owner of the NFL’s St. Louis Rams in August. The transaction required Kroenke to turn over control to his son of the NBA’s Denver Nuggets and the NHL’s Colorado Avalanche. He still controls Major League Soccer’s Colorado Rapids, the National Lacrosse League’s Colorado Mammoth, and is the largest shareholder in the English Premier League’s Arsenal.

None of this impacts his Kroenke Ranches, which came in at No. 10 on the 2010 Land Report 100 at 740,000± acres. Cedar Creek and PV Ranch are Montana cow-calf operations, and Q Creek Land & Livestock Company runs up to 12,000 yearlings on 550,000+ acres in Wyoming. It’s also an Orvis Endorsed Fly Fishing Lodge.

Download the 2010 Land Report 100 HERE.

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