A new report and historical analysis by Pacifica Wine Division shows details of five wineries and 18 vineyards sold in 2013 and 2014. The average winery sold for $3.2 million; while the average vineyard sold for $2.24 million.
Nearly two-dozen wineries and vineyards have changed hands in the past two years in the Paso Robles American Viticultural Area (AVA), according to a recently released report by Pacifica Wine Division.
Five wineries were sold in 2013 and 2014 at an average price of $3.2 million. The sizes of the winery properties varied from 15 to 54 acres and were small to mid-sized in production. The wineries sold were Berardo Vineyard & Winery, Edward Cellars, Chumeia Vineyard, Eagle Castle Winery and Veris Cellars. The largest transaction was Eagle Castle Winery at $4.86 million. It included a 25-acre parcel, 11-acre vineyard, two residences, a 7,900-square foot tasting room and hospitality building, and a 13,000-square foot winery building.
Over the same period, there were 18 vineyard transactions at an average price of $2.24 million. The average property sold was 54.8 acres with an average planted vineyard of 23.8 acres. The largest transaction was 5225 Buena Vista Dr. at $8.5 million. It included 342 acres, four separate parcels, 126-acre pistachio farm, 92.5-acre vineyard, 40 acres of pomegranates, 46 acres ready to plant, a 3,279-square foot home, 7,200-square foot out building with processing area and refrigerated storage.
The vineyards sold over the last two years total about 400 acres, which is a fraction of the 32,000 vineyard acres in the Paso Robles AVA. The region has more than 200 bonded wineries.
“The majority of winery and vineyard sales over the last two years have been dominated by asset-only and distressed sales,” says Newlin Hastings with Pacifica Wine Division. But with prices averaging around $20,000-plus per acre, the local vineyards are still an attractive investment compared to prices in Napa Valley and Sonoma that are running $50,000 to $100,000 per acre.
Since the 2010 sale of Justin Vineyards and Winey, there have not been many acquisitions of a brand with a wine club and solid business value. Justin and Debbie Baldwin sold their 160-acre property to Roll Global, which is owned by billionaires Stewart and Lynda Resnick. The land and winery were sold for $21 million according to the San Luis Obispo County Auditor-Controller’s office, but that does not include the value of the business.
Summary of wineries sold in 2013-14
• Eagle Castle Winery, 3090 Anderson Rd, Paso Robles, 7/23/14, $4,860,000
• Veris Cellars, 1266 N. Bethel Rd, Templeton, 8/12/14, $3,900,000
• Edward Cellars , 1385 W Highway 46, Paso Robles, 7/19/13, $2,750,000
• Berardo Vineyard & Winery, 3280 Township Rd, Paso Robles, 9/19/14, $2,316,775
• Chumeia Vineyard, 8331 E Highway 46, Paso Robles, 11/13/13, $2,279,000
Summary of vineyards sold in 2013-14
• 5225 Buena Vista Dr. Paso Robles, 11/20/13, 8,500,000
• 5160 Indian Valley Rd, San Miguel, 4/24/12, $3,400,000
• 3880 Las Tablas Willow Creek, Paso Robles 7/24/13, $3,100,000
• 1205 Willow Creek, Paso Robles, 9/20/13, $2,400,000
• 7070 Feenstra Rd, Paso Robles, 1/24/14, $2,375,000
• 3015 Gates Field Rd, Templeton, 11/21/13, $2,222,000
• 1785 Wellsona Rd, Paso Robles, 10/28/14, $2,005,000
• 1924 Arbor Rd, Paso Robles, 7/13/14, $1,950,000
• 175 White Hawk, Templeton, 6/28/13, $1,657,500
• 1855 Twelve Oaks, Paso Robles, 5/1/13, $1,630,000
• 2110 Township Rd, Paso Robles, 5/31/13, $1,625,000
• 7598 Creston Rd, Paso Robles, 6/28/13, $1,657,500
• 3432 Las Tablas Willow Creek Road, Paso Robles 9/30/14, $1,575,000
• 845 Windwood rd, Paso Robles, 11/21/14, $1,491,750
• 2929 Creston Ridge Lane, Paso Robles, 7/31/13, $1,265,000
• 4925 Bluebell Lane, Paso Robles, 9/12/14 , $1,237,000
• 7010 Wilderness, Paso Robles, 10/18/13, $1,200,000
• 2815 Ridge Rd, Paso Robles, 5/15/14, $1,000,000
About Pacifica Wine Division
The Pacifica Winery Division is part of Pacifica Commercial Realty, the Central Coast’s premier full-service, industrial, commercial and investment real estate company. Their team of experts advise owners on selling their wineries/vineyards and consult with buyers to looking to purchase. Since 1969, Pacifica Commercial Realty focuses on the needs of commercial and investment property owners. The Pacifica Winery Division serves the Central Coast’s wine country in Monterey, Santa Barbara and San Luis Obispo counties, specializing in wineries for sale on the Central Coast. The Pacifica Winery Division’s success is built on a reputation of superior market knowledge, integrity and commitment to client satisfaction. Pacifica represents many of the area’s most successful companies, while maintaining a personal level of service for the community’s own independent businesses.
