This upward trend is a sign that the global wines of the region are still attracting high-quality investors.
Jan. 5, 2021 (Paso Robles, CA) – With all the challenges of 2020, one area of the Central Coast has experienced significant growth: demand for vineyards and wine cellars, says Jenny Heinzen, one of California’s largest wine and spirits brokers.
Although the year 2020 turned out to be even busier than expected, I have seen encouraging signs in wine consumption and actively buying grapes at harvest, says Jenny Heinzen, founder of the real estate agency Paso Robles. As in the past, when viticulture suffered from difficult economic conditions, the wine industry is growing through innovation and renewal – and this is particularly evident in today’s robust sales activity in viticulture.
Jenny Heinzen Real Estate celebrates its best year since its inception in 2004, with record sales of farmland and vineyards in Monterey, San Luis Obispo and Santa Barbara provinces this year, and plans to sell 5,233 hectares by 2020.
The Central Coast region, particularly the Paso Robles American Viticulture Area (AVA), continues to take the lead and is home to major wineries and institutional agricultural investors who want to exploit part of the region for vineyards and wineries. Heinzen has worked with nine successful buyers and sellers, with average sales of $6.6 million and last year’s largest transaction of $17 million.
In September alone, Heinzen sold the vineyards for more than $31 million to three different groups of institutional agricultural investors on the Central Coast. The competition is so fierce that a Paso Robles company consisting of a winery and a vineyard was closed in a record time of only two weeks.
The success of the progressive farmers and winemakers of the Central Coast has become clear over the years, with high scores and a steady growth in wine tourism, says Heinzen. But even with this success, it has always been regarded as a development region. But this extremely high demand for vineyards and wine-growing areas shows that the Central Coast is no longer a development area – it is firmly anchored.
With the ever-increasing demand for vineyards and wineries as a result of the COVID-19 crisis, Heinzen predicts that the wine market of the Central Coast will be even more resilient.
Mother Nature threw us another curveball last season, with record heat peaks and an increase in the number of forest fires. These market distortions create opportunities for advanced investors to acquire vineyards that need to be redeveloped to prepare them for the next recovery and the next peak in the grape market, according to Heinzen, who already has new offers and additional contracts in prospect for next year.
Keep an eye on Heinzen’s blogs, because she keeps track of the problems that buyers and sellers face. Upcoming topics include Prop 19 and Vineyard Property, Celebrities and Vineyards, Paso Robles Subsurface Basin Regulatory Status, Williamson Law and Vineyards, and Central Coast Vineyard Magnates.
About Jenny Heinzen Real Estate.
Jenny Heinzen Real Estate was founded in 2004 and is one of America’s leading vineyard companies. It provides property representation services to institutional investors, wineries, farmers and lifestyle owners on the Central Coast of California. Jenny Heinzen, a Central Coast resident and founder of the company, grew up in a family of real estate investors and holds a Master’s degree in Agriculture from Cal Poly in San Luis Obispo. After working for the prestigious company M & A, she obtained her real estate license in 2004 and joined Napa Valley, a company specializing in vineyards, wine cellars and residential real estate. Jenny is recognized as 30 years old and younger by the National Association of REALTORS® and is a former president of the Women’s Council of Realtors. jennyheinzen.com
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