Land Sold

Right at 400 acres of prime agricultural land in the Hotchkiss Valley has been sold. The five separate parcels were sold back in October. The buyer of the property is Walton Tennessee LLC. Walton paid $4,694,149 for the 398.78 acres.

Walton Tennessee LLC is associated with Walton International, which is associated with Walton Global, all out of Scottsdale Arizona. 

From their website:

Since 1979, Walton has been passionate about land and what it delivers to all areas of real estate: landowners, builders, developers, investors and ultimately new communities and people. For decades, our core business has focused on acquiring, managing and selling land.

Our expertise in land combined with our in-depth understanding of the development cycle allows us to deliver value to our investors and a competitive advantage to the real estate industry. Our $3.6 billion of land under management and more than $2 billion distributed to our investors shows our commitment to what we do.

It's unknown at this time the intent for the property but it sure sounds like development is their business. Currently, all the land they bought is zoned A-1, agricultural, as is all the surrounding land, meaning the highest residential density would be one home per acre. The zoning classification is not likely to change. There is no public sewer anywhere in the area so that would eliminate most commercial development.

I guess we'll just have to wait and see.

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12/12/22