Shareholder John D. Gray, Jr. of NAI Earle Furman represented Run Well Ranches, LLC, in the recent acquisition of 2,614 acres of legacy farmland in the Upstate of South Carolina
His client of more than 20 years sold a cattle ranch in Texas, and Gray assisted with facilitating a 1031 tax-deferred exchange into the burgeoning Upstate market.
The acquisition consisted of two transactions located in Anderson County, Greenville/Laurens Counties and included 23 assembled separate parcels. The combined purchase price totaled approximately $50,225,000.
On the Anderson transaction, Gray collaborated with two NAI Earle Furman brokers, Shareholder Bill Sims and Associate Will Freeman, to source the product for purchase.
Both tracts are being held for investment.
However, NAI Earle Furman officials said the long-term strategy is to eventually develop portions of the properties for residential and commercial mixed-use projects.
The most notable acquisition was a 1,355-acre operating Wagyu cattle ranch that straddles the Greenville County/Laurens County line near Honea Path.
The property includes several residences and agricultural improvements and will continue operating as a working cattle farm while ownership evaluates future opportunities, NAI Earle Furman officials said.
They added land throughout the Upstate continues to experience significant appreciation as population growth, infrastructure investment, and economic expansion drive demand for strategic real estate holdings.
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