Fly Shops and Real Estate: The Perfect Mix?

An article in the Redding, California Record Searchlight notes that The Fly Shop — a virtual institution in northern California and one of the largest online retailers in the business — has partnered with Signature West Properties Inc. in real estate marketing. Why does it make sense? “Less than 3 percent of The Fly Shop’s retail business” starts in their local area, says The Fly Shop owner’s Mike Michalak.
Of course Orvis has been in the real estate business for some time, and Cabela’s Trophy Properties is another extension of their brand, but those businesses service worldwide locations.
Is real estate the ultimate high-ticket item for retail businesses that can claim absolute knowledge of a locale? Why not?