TWO LARGE VIRGINIA FARMS SELL TO LOCAL GROWERS

Richmond, VA – Commonwealth Land, LLC is pleased to have facilitated the sale of two large farms in the highly sought-after Route 17 corridor between Tappahannock and Port Royal. Bill Barnett, of Commonwealth Land represented the Sellers, The Butler family, whose roots in the area go back to before World War II. The two farms sold to Tidewater Properties of Essex, also long-term residents, and growers of the area. Fox Hal which is made up of 870± acres and Liberty Hill which has 322± acres respectively, were sold individually but transferred at the total of $4.1 M.

Fox Hall is characterized by large river terrace fields and a commanding view across the Rappahannock River Valley. Liberty Hill is nearby and fronts on the Rappahannock River. Both farms are under conservation easements as are many others in the area.

The upper Essex/Caroline community is an intensely farmed community and acreage is seldom transferred on the open market but is often passed from one generation to the next, or sold to a neighbor. In this case the Buyer had a healthy long-term relationship with the Seller but had to compete with interest from other locals as well as out of the town potential purchasers. Market activity hit a pause because of Covid 19 before the farms came to market in October 2020 but began a strong surge by January 2021 in anticipation of normal activity and vaccine approval.

About Commonwealth Land

Commonwealth Land is Virginia’s proven market leader for buying and selling agricultural, recreational and investment grade timberland. Commonwealth Land utilizes a custom CRM system accompanied by a proprietary database which matches buyers and sellers therefore offering an unparalleled level of brokerage service. To learn more visit www.commonwealthland.com.