SOURCE: Murray Wise Associates LLC

Murray Wise Associates LLC

February 17, 2011 11:43 ET

Pasquotank County, N.C., Farmland to Sell in March 22 Auction

ELIZABETH CITY, NC--(Marketwire - February 17, 2011) - More than 3,900 acres of land in Pasquotank County, N.C. -- most of it highly productive farmland -- will sell at auction Tuesday, March 22, with Murray Wise Associates marketing the property and managing the sale.

The land, which includes more than 2,700 acres of tillable farmland, will be sold in 20 tracts, ranging from 21 acres to 378 acres, according to Joe Bubon, executive vice president of the company.

"It's very rare to see this much quality farmland for sale at auction, especially in the Southeast," said Bubon. "The land has the potential for more than 200 bushels of corn per acre. Bidders will be allowed to offer bids on this land in any combination, so they can buy just the land that best suits their needs. Ten of the tracts are 200 acres or less, and four are 100 acres or less. This allows the bidders the greatest possible flexibility," he said.

Over the past two years, demand for quality agricultural land has increased dramatically, according to Bubon, who cites two major reasons. "Farmland has been the best-performing real estate asset by far over the past five or six years, as investors have looked to its excellent long-term returns and appreciation, especially compared with more volatile investments. Second, Asian demand for soybeans, corn and other American crops has skyrocketed as income in China and India has increased," said Bubon. "These factors will continue in the foreseeable future, making this land an excellent investment."

The land has well-maintained interior roads and a record of excellent double crop wheat and soybean yields. It is suitable for soybeans, corn, potatoes, cotton, wheat and milo.

The auction will begin at 1 p.m. Tuesday, March 22 at the Kermit E. White Center, Elizabeth City State University, Elizabeth City. Personnel will be available to guide inspections March 2, 3, 9 and 10 and at other times by request. Individuals seeking additional information may contact the company at 800-607-6888 or visit www.murraywiseassociates.com.

Murray Wise Associates LLC, headquartered in Champaign, Illinois, is a leading national agricultural real estate marketing and auction company. The company also manages farmland assets for individual clients from its office in Clarion, Iowa. More auction information.

Contact Information

  • For more information:
    Carl Carter
    205-823-3273

    Lindsay Fernandes
    205-909-3705