Blakeslee & Crain Vineyard Advisors and Brokers, wine estate specialists located in Sonoma, have arranged for the sale of the well-known Topolos Russian River Vineyards property to Baltimore real estate investor Chris O’Neill and local grape grower Art Ibleto. Topolos Russian River Vineyards is a landmark facility of historic and regional importance. The 12-acre property includes 9 acres of planted vineyards, a 20,000-case winery permit and facility, a 160-seat restaurant, a tasting room and sought-after permits for tours and public events.
As the consumption of wine continues to grow in the U.S., the demand for quality vineyard property keeps growing. Good quality vineyard land is already in limited supply. Because of the difficulty in obtaining permits, sourcing enough water and satisfying ever more difficult environmental restrictions, it is more costly than ever to develop new vineyards. For this reason, land with existing vineyards is at a premium. These properties with existing vineyards or good quality vineyard sites are being snapped up despite the broader economic downturn.
In spite of the current state of the economy and housing, Blakeslee and Crain have seen no fall-off in winery estate properties. “Investors are getting out of the stock market and are looking for a place to put their money,” said Chris Blakeslee. “Winery estate and vineyard properties are more than holding their own. There is no evidence of a decline in price whatsoever.”
Chris Blakeslee and Michael Crain have more than 50 years of combined experience in real estate and agriculture. Holding a General Certified Real Estate Appraiser License (the highest appraising license granted in California), both have an abiding interest and expertise in the intricacies of buying and selling vineyard properties. Their four-year old company was formed to assist individuals and businesses buy, sell, develop and evaluate real estate and agricultural properties in California’s wine country.
Blakeslee and Crain are able to identify appropriate areas and properties throughout wine country. They are licensed to determine market values and assess economic feasibility for specific properties. They have the ability to assist with due-diligence items related to soils, water slope analysis and climate, and they offer ongoing development consultation in the erosion control plan process through the land preparation and planting phases.
Blakeslee & Crain Vineyard Advisors and Brokers are located at 550 Broadway in Sonoma. They can be reached by telephone at 707.938.9800 (or fax at 707.938.9824). For more information about Michael Crain, Chris Blakeslee or the services provided by their company, visit their website www.vineyardadvisors.com.
