Phillips, Desha County Farm Land Sells in Multimillion-Dollar Deal

by Arkansas Business Staff  on Monday, Apr. 1, 2013 12:00 am  

Did you hear about a really big farm sale in southeast Arkansas?

We’re told the deal weighed in at about $208 million and encompassed land in Phillips and Desha counties.

Global AG Properties USA LLC of Charlotte, N.C., bought the property from David Griffin.

We’re led to believe Global AG is an affiliate of TIAA-CREF: Teachers Insurance & Annuity Association  – College Retirement Equities Fund. TIAA-CREF is a multibillion-dollar, nonprofit financial services firm based in New York.

We understand the sale closed at about $5,800 an acre. 

If that’s accurate, that ciphers out to a transaction encompassing more than 35,000 acres.

We also came across another big agri deal involving the Griffin family that received little fanfare at the time.

Premier Farm Properties LLC of Champaign, Ill., purchased more than 13,000 acres around the Wabash community in southern Phillips County.

That $56.5 million sale closed back in December 2010.



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