The Herrington Ranch 334.66 Gross Acres Vineyard and Estate Development Land
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The Herrington Ranch 334.66 Gross Acres Vineyard and Estate Development Land PRICE REDUCTION: $1,595,000 www.theherringtonranch.com Offering Memorandum Capital Markets | Investment Properties AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT CBRE, Inc. operates within a global family of confidence, (iii) you will not disclose it or its opportunity to inspect the Property may be made companies with many subsidiaries and related contents to any third party without the prior written available to qualified prospective purchasers. You entities (each an “Affiliate”) engaging in a broad authorization of the owner of the Property are advised to independently verify the accuracy range of commercial real estate businesses (“Owner”) or CBRE, Inc., and (iv) you will not use and completeness of all summaries and including, but not limited to, brokerage services, any part of this Memorandum in any manner information contained herein, to consult with property and facilities management, valuation, detrimental to the Owner or CBRE, Inc. independent legal and financial advisors, and investment fund management and development. carefully investigate the economics of this At times different Affiliates, including CBRE Global If after reviewing this Memorandum, you have no transaction and Property’s suitability for your Investors, Inc. or Trammell Crow Company, may further interest in purchasing the Property, kindly needs. ANY RELIANCE ON THE CONTENT OF have or represent clients who have competing return it to CBRE, Inc. THIS MEMORANDUM IS SOLELY AT YOUR interests in the same transaction. For example, OWN RISK. This Memorandum contains select information Affiliates or their clients may have or express an pertaining to the Property and the Owner, and interest in the property described in this The Owner expressly reserves the right, at its sole does not purport to be all-inclusive or contain all Memorandum (the “Property”), and may be the discretion, to reject any or all expressions of or part of the information which prospective successful bidder for the Property. Your receipt of interest or offers to purchase the Property, and/or investors may require to evaluate a purchase of this Memorandum constitutes your to terminate discussions at any time with or without the Property. The information contained in this acknowledgement of that possibility and your notice to you. All offers, counteroffers, and Memorandum has been obtained from sources agreement that neither CBRE, Inc. nor any Affiliate negotiations shall be non-binding and neither believed to be reliable, but has not been verified has an obligation to disclose to you such Affiliates’ CBRE, Inc. nor the Owner shall have any legal for accuracy, completeness, or fitness for any interest or involvement in the sale or purchase of commitment or obligation except as set forth in a particular purpose. All information is presented “as the Property. In all instances, however, CBRE, Inc. fully executed, definitive purchase and sale is” without representation or warranty of any kind. and its Affiliates will act in the best interest of their agreement delivered by the Owner. Such information includes estimates based on respective client(s), at arms’ length, not in concert, forward-looking assumptions relating to the or in a manner detrimental to any third party. general economy, market conditions, competition CBRE, Inc. and its Affiliates will conduct their and other factors which are subject to uncertainty respective businesses in a manner consistent with and may not represent the current or future the law and all fiduciary duties owed to their performance of the Property. All references to respective client(s). acreages, square footages, and other Your receipt of this Memorandum constitutes your measurements are approximations. This acknowledgement that (i) it is a confidential Memorandum describes certain documents, Memorandum solely for your limited use and including leases and other materials, in summary benefit in determining whether you desire to form. These summaries may not be complete nor express further interest in the acquisition of the accurate descriptions of the full agreements Property, (ii) you will hold it in the strictest referenced. Additional information and an © 2017 CBRE, Inc. All Rights Reserved TABLE OF CONTENTS EXECUTIVE SUMMARY 04 PROPERTY DETAILS 06 VINEYARD POTENTIAL 08 PROPERTY LOCATION 10 PROPOSED DEVELOPMENT 14 EXECUTIVE SUMMARY THE HERRINGTON RANCH Located at the southern end of Lake County, less than 1 mile from the recreational activities of Hidden Valley Lake lies the Herrington Ranch. Nestled in the beautiful rolling hills of Coyote Valley, the property consists of 334.66 gross acres of estate and vineyard development land. Approximately 187 acres have been identified as having slopes less than 30% with portions of this acreage being suitable for vineyard development. This property offers the unique opportu- nity to develop wine grape vineyards in an area where wines have been winning awards and receiving critical acclaim. Known as “The Mountains of the North Coast,” Lake County is an ex- citing high-elevation wine region located in Northern California’s prestigious North Coast ap- pellation. The Herrington Ranch is located near Middletown, east of Hidden Valley Lake, in Lake County. Just 25 minutes north of Napa County, with Sonoma and Mendocino counties to the west. The property is uniquely situated just 1 hour north of the city of Napa and just 2 hours from San Francisco, offering the exclusivity of Hidden Valley yet proximity to the Urban areas of San Fran- cisco and the Silicon Valley. The local area offers many opportunities for fishing, swimming, camping, hiking, horseback rid- ing and touring the many vineyards and wineries. The property is within the North Coast AVA and sandwiched between the Napa Valley, North Sonoma, and Clear Lake AVA’s. Surrounding land uses include single-family residential, vineyard and estate-homes, 18-hole PGA rated Hid- den Valley Lake Golf Course, and commercial and retail uses. The final phase of the neighboring RimRock Ranch Vineyard Estates offering 12-29 acre home sites starting at $399,000. PROPERTY DETAILS THE HERRINGTON RANCH LOCATION 16750 Herrington Road, Lake County, CA 95467 013-060-40 155.59 acres SIZE 334.66 Gross Acres APN’S 013-060-40 155.59 Acres 013-014-11 107.61 Acres 013-014-03 71.46 Acres ZONING RR (Rural Residential) - 206.44 Acres RL (Rural Lands) - 128.22 Acres 013-014-11 107.61 acres • Potential for 29 parcels – lot splitting as per general plan and zoning designations or cluster development • Great soils with potential for Vineyard Development 013-014-03 71.46 acres IMPROVEMENTS • 1,344 Sq. Ft. Barn and apartment with partial 2nd floor. • 320 foot depth well with pump and pressure tank, electrical connection and water piping. • 1,006 feet of overhead electrical service. • Septic system (approved for 3 bedrooms). • 19,598 feet of perimeter fencing. = VINEYARD POTENTIAL THE HERRINGTON RANCH In the heart of Northern California’s Coastal Range, Lake County’s 9,454 acres of vineyard grace the valleys, terraces and ridges of a remarkable landscape. With Clear Lake at its center, the viticultural region spans a range of terrain shaped by volcanic and tectonic forces. This combination of altitude, climate, and soils plus the careful selection of wine grape varieties permits Lake County growers to achieve a nearly perfect union of site and variety. The harmony of site and varietal selection can result in a wine that expresses its sense of place, which French winemakers refer to as terroir. Lake County Vineyard and Wine Characteristics 1) HIGH ELEVATION BLOCK 1 The majority of vineyards in the region are planted above 1,300 feet, and 122 ACRES the upper elevations experience higher ultraviolet light levels, promoting phenolic intensity with balance. 2) HIGH DRY SHORT AND COLD Higher and drier mountains have less pest and mildew pressure. Cold win- ters reduce pest populations, and a shorter season requires fewer pesti- BLOCK 2 cide and other applications. As a result, Lake County is among the areas 14 ACRES of lowest pesticide use of any wine region in California. 3) COMPELLING TERROIR The appellation boasts the purest air quality in California (3rd cleanest in the nation), some of the youngest soils in the North Coast, and one of the BLOCK 4 oldest lakes in North America. 7 ACRES 4) HIGH QUALITY Lake County produces high-quality, varietally true grapes with prices tar- geted for $10 to $40 programs. BLOCK 3 31 ACRES BLOCK 5 5) PROFessIONAL GROWERS 12 ACRES The region boasts a small, experienced cadre of growers who have plant- ed the right varietals in the right locations at the industry standard. Seven- ty percent of Lake County growers have participated in the Code of Sus- tainable Wine grape Practices Self-Assessment. PROPERTY LOCATION THE HERRINGTON RANCH Clear Lake Wine North Coast Regions Herrington Ranch Northern Guenoc Sonoma Valley Knights Napa Valley Valley THE HERRINGTON RANCH NORTH COAST CLEAR LAKE GUENOC VALLEY DESIGNATION DESIGNATION DESIGNATION American Viticultural Area American Viticultural Area American Viticultural Area STATE STATE STATE California California California COUNTIES COUNTIES COUNTIES Lake, Marin, Mendocino, Napa, Solano, Lake Lake Sonoma GRAPE PRODUCTION GRAPE PRODUCTION GRAPE PRODUCTION VINEYARDS VINEYARDS VINEYARDS 38 2 1993 TOTAL AREA TOTAL AREA TOTAL AREA 217,467 acres 4,757 acres 3,251,042 acres PLANTED AREA PLANTED AREA PLANTED AREA 3,153 acres 195 acres 68,067 acres DOMINANT GRAPE VARIETY DOMINANT GRAPE VARIETY DOMINANT GRAPE VARIETY Sauvignon Blanc (Fumé blanc) xxx Cabernet Sauvignon TERRIOR PROFILE TERRIOR PROFILE TERRIOR PROFILE ELEVATION ELEVATION ELEVATION HIGH AVE LOW HIGH AVE LOW HIGH AVE LOW 2,825 ft. 1,876 ft. 1,333 ft. 1,514 ft. 1,303 ft. 1,093 ft. 2,825 ft. 564 ft. 6 ft. GROWING SEASON CLIMATE GROWING SEASON CLIMATE HI °F LOW °F RAIN IN. HI °F LOW °F RAIN IN. 84.4 50.4 6.6 79.6 49.2 6.2.