Newhall Co. to Sell $200 Million in Property

Newhall Land & Farming Co. said it plans to sell about $200 million of retail, office and residential property and use the money to buy back units. The Valencia-based company, whose main Newhall Ranch development north of Los Angeles is twice the size of Manhattan, also forecast record 1999 earnings from Thursday’s sale of the 36,000-acre Suey Ranch in Santa Barbara and San Luis Obispo counties for $25 million. Newhall’s stock rose 38 cents to close at $25.44 on the New York Stock Exchange.