Cushman & Wakefield and AGENT509 are proud to introduce Benton Acord Orchard, a value-add investment opportunity consisting of 275.15 deeded acres and 217.7 planted acres spread across three non-contiguous orchards. The offering is comprised of Benton Acord North Orchard, Benton Acord Eastside Residence, & Benton Acord South Orchard, available for sale individually or together. Benton Acord North Orchard currently features 71% cherries, 29% apples and an H-2A residence for accommodating up to 15 workers. Benton Acord Eastside Residence features 18.36
deeded acres, 9.9 of which are planted to cherries. The site also includes a 2,250 sf home and two agricultural buildings. Benton Acord South features 41.03 deeded acres, 28.4 of which are planted to high density apples.
The story of recent ownership has been of concerted effort and investment. Purchased in 2019 for approximately $7,200,000, ownership then invested several million dollars into the orchard, developing about 17 acres of highly productive apples and 43 acres of cherries. This and other property improvements have not yet been fully realized in the orchard’s performance, but as these come into full maturity and utilization, they will have a positive impact on yields. Notwithstanding, recent historical crop production on the property has been challenged. In the realm of farming, weather plays a significant role, and the Benton Acord Orchards have endured a series of severe weather-related challenges. Weather abnormalities started with a frost event in early spring 2020, which was followed by an unusual heat dome in March 2021, a surprise snowstorm during full bloom in 2022, and a market disruption (“glut”) across the North American cherry industry in 2023 due to an overlap of the Washington cherry harvest with the California crop. Each of these events caused crop results on the property to be well below both expectation and orchard capabilities. Although weather has played a big role in the performance of the asset, surface water shortages have not been experienced by the existing or prior owner. With all that being stated, the Benton Acord Orchards are well-positioned for future success: younger cherry blocks are maturing and expected to boost yields, recent high-density apple plantings are nearing production, and horticultural practices are being updated to enhance tree vitality.
Herein lies the opportunity. Cherries are a cash crop in the state of Washington, with most warehouses paying out by October of the same year, so revenue capture is quicker than other tree fruits such as apples and pears. The property is in one of the earlier harvest windows for cherries in Washington. As such, the cherry crop harvest is normally finishing up by around July 4th, during the marketing window when cherry sales tend to command premium prices. The Benton Acord North Orchard maintains a crop balance of 71% of its acreage devoted to cherries. This value-add orchard is uniquely positioned to capitalize on the lucrative cherry market, supported by strong fundamentals such as a skilled labor pool near the Tri-Cities, well-maintained county roads and services, and ample surrounding infrastructure. Benton Acord Orchards is not located in an isolated region, it is in the heart of the Columbia Basin in the nation’s leading cherry producing state. Don’t miss this opportunity!
Price: $4,599,000 or $15,254 per gross acre
Benton Acord North: $3,200,000 or $14,800 / gross acre
Benton Acord Eastside Residence: $699,000 or $16,196 / gross acre
Benton Acord South: $700,000 or $17,254 / gross acre