[pydry]

That signals an extraordinarily inefficient use of land.

With land that valuable, and a land value tax/higher property taxes he'd have been run out of business years ago and replaced by one or more economically efficient companies.

[codingdave]

Yes, but his statement that the land is worth 10X doesn't have to be true to be effective leverage in negotiation. Perception is everything, and casually dropping a "Eh, I don't really need you", and turning your back on a negotiation is often amazingly effective.