A 30,000-acre ranch in Central Texas with unparalleled water rights and resources has hit the market for $250 million. Icon Global Group has announced that it aims to conclude negotiations by year’s end for Sandow Lakes Ranch located near Rockdale.
Icon Global Group represents Alcoa in the listing of the property, which is now clear of former encumbrances due to the permanent closure of Alcoa’s facility and the separate closure of a power plant and an associated mine operated by another company.
International real estate advisor, Bernard Uechtritz, and his specialty group, Icon Global, in association with Brigg’s Freeman Sotheby’s, serve as broker for the Central Texas property.
“This planned transaction, which we expect to complete by year’s end, will provide the prospective buyer with a simple and straightforward sales transaction with a very smooth transition without any prior encumbrances,” said Icon Global founder, Bernard Uechtritz. “We invite and encourage all expressions of interest; we are in a great position to finalize bids and complete the transaction this year.”
The property is within Texas’ “Golden Triangle,” with proximity to Austin, and it is the largest listing for private ground, surface, and water rights in the state of Texas.
Earlier marketing efforts for the Sandow Lakes Ranch produced several finalist bidders. The property listing now includes a restatement on a number of Sandow Lakes’ assets with a significant increase in expected revenue streams. The land includes unparalleled water rights with industrial and intermodal facilities.
“All previous encumbrances have been resolved and, together with the continued progress of the associated water rights, this property will represent an excellent investment for a prospective buyer,” said Uechtritz.
Situated between Austin and San Antonio, Sandow Lakes boasts thousands of acres of highly improved pastoral and agricultural land. The property is comprised of current industrial, warehouse, intermodal, and power facilities as well as fertile reclaimed mine land with 14 pristine lakes surrounded by wooded recreational buffer property.
Sandow Lakes represents the largest water rights opportunity in Texas.
The unparalleled Water Rights & Resources include:
- 100 percent of all water rights convey
- Surface, ground and divisionary water rights
Mineral rights:
- 100 percent of owned oil and gas minerals convey
- Estimated 200 million tons of lignite coal remain
Existing Industrial and Power Complex:
- Full utilities in place, roads, rail-head
- Warehousing and manufacturing facilities
- Distribution facilities and potential landfill sites
