PROJECTS

Nut Tree Airport Expansion Land



Client/Developer

County of Solano

Size:

40.95 Acres

Real Estate Advisor:

Terra Realty Advisors, Inc.

Year:

2008

Financing:

All Cash

Value:

$5,400,000 Cash

Comments:

Terra Realty Advisors, Inc. on behalf of our client The County of Solano, structured and negotiated the purchase of approximately 41 acres of land from the Buzz Oates Company in Vacaville, CA. Total consideration was valued at approximately $8,500,000. This was compromised of: a cash payment of $5,400,000 and a charitable donation of $2,000,000 from Buzz Oates to the County. We also negotiated, as part of the total consideration, 153 water connection units to the County worth approximately $1,100,000, along with added sewer capacity, both at no additional cost. This complicated transaction took 3 years to consummate, and is a key land piece of property which will allow the eventual expansion of the Nut Tree Airport runway, and provide a larger safety buffer for take-off’s and landings at this busy general airport.