“What we experienced in the first half of the year is representative of the overall market”, notes Joe Taggart, Executive Vice President and Managing Director of Timberland Transactions. “Perhaps more importantly, however, is the diversity of sales and geographies. Typically, we will see specific regions, property sizes, or property types having more activity in one part of the cycle. This year, we have seen strong activity across the board and across the country.”
The diversity of sales include retail, recreational parcels in the Northeast & mid-Atlantic; mixed-use properties like the 1,500 acre Childress Place in Sardis, Mississippi or the 28,000 acre Brandon property in upstate New York; and wholesale timberland opportunities like the 21,000 acre Cherry Springs property in Pennsylvania, the 12,000 acre King property in Louisiana and the 30,000-acre Gualala Redwoods ownership in California.
LandVest expects this market to continue through the end of the year. According to Taggart, “we have a number of projects currently under agreement to close in the second half of the year, strong activity on our existing available inventory and a full pipeline of projects to come online through the 1Q 2016.”
