Tags: waggoner | ranch | sale | 725m | texas | ponderosa

Waggoner Ranch for Sale: $725M for Your Own Texas 'Ponderosa'

By    |   Thursday, 21 May 2015 07:27 AM

The Waggoner Ranch in North Texas, one of the largest privately-owned ranches in the country, is being sold for $725 million.

The ranch covers more than 510,000, three-quarters the size of Rhode Island, and is located 175 miles northwest of the Dallas-Fort Worth area near Wichita Falls, according to the Houston Chronicle.

"This is a Wall Street or Silicon Valley entrepreneur's last chance to buy the next King Ranch," Bernard Uechtritz, of Briggs Freeman Sotheby's International Realty in Dallas, told the Chronicle.

"It's the only other ranching brand that has all the attributes and opportunities that the King Ranch does," said Uechtritz.

The Waggoner ranch's backwards "D" brand has been connected with the property since 1849 and is one of the oldest brands in Texas.

E! News said the ranch, covering 800 square miles across six different counties, has some 7,4000 cows, 500 quarter horses, 20 cowboy camps and several lakes. There is also a pumping oil well on the land, where "Texas tea" was found in 1902.

"We've had over 500 inquiries from all around the world," Uechtritz told the Chronicle. "We are showing the ranch to national and international and Texas-based prospects on a weekly basis. A number of buyers are conducting due diligence, evaluating the property."

The ranch was bought in 1849 by Dan Waggoner and enlarged by his son, W.T. Waggoner, according to the Huffington Post. The first oil well as discovered while the family was digging for underground water.

The Chronicle said the ranch has been at the heart of a long-running family dispute between two factions of Tom Waggoner's heirs. One side wanted to carve up the ranch and its assets while others were determined to leave the sweeping property intact.

"Families not being able to get along is the No. 1 reason for land fragmentation," said Kerry Cornelius, of the ranch management program at Texas Christian University.

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The Waggoner Ranch in North Texas, one of the largest privately-owned ranches in the country, is being sold for $725 million.
waggoner, ranch, sale, 725m, texas, ponderosa
Thursday, 21 May 2015 07:27 AM
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