Hall and Hall Auctions Sells Ranch Land near Dallas, Texas for $4 million
A 2,198-acre unimproved property near downtown Dallas sold for $4 million dollars at auction on Thursday, March 7th, 2013.
Billings, MT (PRWEB) March 12, 2013
TRBP Ranch, a 2,198-acre property only 17 miles from downtown Dallas and three miles south of Lake Ray Hubbard Dam, sold for $4 million dollars to a Dallas businessman at an auction on Thursday, March 7th, 2013. TRBP is a perfect union of seclusion and access, and a great opportunity to create a private recreational haven just minutes from Dallas. For more information on farm and ranch auctions, contact Scott Shuman of Hall and Hall Auctions at 800-829-8747 or Monte Lyons at 806-698-6882.
“We are very pleased with the outcome of the auction,” said Shuman. “The property is only a few minutes from downtown, and very secluded, so the interest was quite high.”
The auction was attended by roughly 50 people with 15 registered bidders. An oil company supply executive from Dallas ultimately purchased all 2,198 acres for an average of $1,819 per acre. The Texas property was offered in conjunction with Hortenstine Ranch Company in its entirety or in tracts ranging from 31 to 1,054 acres. It encompasses more than five miles of Trinity River frontage, offers great views of the Dallas skyline, and nearly 2,000 acres are in a flood zone that cannot be developed.
“Both the seller and the buyer were pleased with how the auction process worked,” said Shuman. “At Hall and Hall Auctions, we're able to bring our unique partners approach to the auction side of our business—but there are many more reasons that set our program apart.”
Over the past few months, Hall and Hall Auctions has marketed more than 34,000 acres near San Angelo, TX as well as 28,000+ acres in Eastern Oklahoma.
“The auction process continues to be more and more accepted in the Texas market and sellers are starting to see the benefits of selling through the auction method of marketing,” said Lyons. “Buyers compete under rules established by the seller and they know exactly what day the transaction will take place allowing them to plan for the future.”
Hall and Hall's next auction is O'Dell Farms, 2,470 +/- acres offered in several tracts just minutes from Kansas City. This property features productive farmland, ranch land and building sites with rolling hills and several ponds. It is an excellent opportunity for the investor, farmer, rancher or recreational enthusiast. The auction will be held June 19th At the KCI-Expo Center in Kansas City.
About Hall and Hall:
Hall and Hall was formed in 1946 as an agricultural mortgage company, and has since branched out into farm and ranch brokerage, appraisals, resource management and enhancement, retained search, auctions, and consultation on conservation easements and stewardship plans. Hall and Hall has emerged as the largest full service rural real estate firm in the Rocky Mountain West and Great Plains regions, managing more than one million acres of land, and servicing a loan portfolio of more than $500 million. A unique partnership between its offices in Montana, Wyoming, Idaho, Texas, Kansas, Nebraska, and Colorado ensures that the client receives local knowledge and personal service as well as the international perspective needed to make informed acquisition and management decisions.
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