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Site
This 80 acre property located in the Yamhill Carlton AVA is just southwest of Ribbon Ridge AVA across the Chehalem Valley and accessed off Ribbon Ridge Road. The property was developed by the Dussin family, owner of the Old Spaghetti Factory restaurant group, in conjunction with Lynn and Ron Penner-Ash, who now lease the facility from the owner. Their business, Penner-Ash Wine Cellars, is NOT for sale and is not a part of this offering. They have leased the facility for the next 15 years. That said, substantial information about them and the site and winery is available here. Information about the lease and income can be provided upon signing a non-disclosure agreement. It is understood that a likely buyer would not be a user prior to expiration of the lease in 15 years. 

Value is arrived at primarily through discounting future cash flows and the net present value analysis of the future value of the land and improvements. The broker will provide a Financial Management Rate of Return analysis showing a return of approximately 10-11% over the time period. This includes many assumptions over a long period and should not be relied upon to make decisions. It can be used as a “first” look.

Land
The site is located just west of Ribbon Ridge Road between Hwy 240 and North Valley Road It is primarily east and northeast sloping from a lower elevation of 200’ and upper of 520’. It contains approximately 47 acres that should be plantable to premium winegrapes. The soils are primarily Willakenzie and Jory according to SCS mapping. Timber removal and clearing would be required for additional planting. The current vineyard of 15 acres of Pinot noir was planted in 2003 with 4.5 x 7’ spacing on grafted rootstock using Dijon 114, 115, 667, 777 and Pommard clones. It is bottled as the estate wine of Penner-Ash as “Dussin Vineyards.”  (Maps)

Improvements 
The winery was designed by WaterLeaf Architecture and Interiors and built by O’Brian Construction LCC in 2005. It is state-of-the-art, gravity flow at three elevations to minimize mechanical interaction with the wine. It is 16,000 sq. ft. and sited to take advantage of the Mt. Hood and Mt. Jefferson views over the Chehalem Valley. It was built to last and incorporates winemaking lessons learned over the centuries. There are offices, tasting room, entertainment room with massive fireplace, adjacent commercial-grade kitchen, and employee areas and lab on the main floor framing the next level where primary fermentation takes place. Finally, the lower level holds the barrel storage and open areas where ultimately, bottling and shipping finish the process. There is substantial employee and guest parking, truck access, beautiful landscaping and the vineyards to complete the ambiance of a top quality Oregon vineyard/winery property.

Location
15771 NE Ribbon Ridge Road, Newberg, OR 97132

Price
The property is offered subject to the ongoing lease for $5,650,000. The lease will expire in May 2024. A copy of the lease, the income analysis and the FMRR analysis are available upon signing the NDA as mentioned above.