DALLAS, TEXAS – Alcoa’s broker representative for the sale of Sandow Lakes Ranch, Bernard Uechtritz, has announced that 27,777 acres of highly improved pastoral and agricultural land and some 13 lakes have been surveyed and divided off from approximately 6,000 acres which include the industrial, commercial, intermodal and power facilities, allowing each of the parcels along with all associated water, lignite and mineral rights to be sold in two large tracts.
Alcoa is selling its real property in Milam, Lee and Bastrop counties, Texas, which comprise approximately 33,777 acres in total. For over 60 years, Alcoa has been engaged in lignite mining, power generating, aluminum smelting and associated activities on these lands, and subsequently winning national recognition and multiple awards for its outstanding land reclamation, habitat and wildlife conservation practices.
The total acreage sale of 33,777 acres consists of an initial parcel of approximately 27,777 acres which is to be sold at any time that a sales agreement is negotiated. According to Uechtritz, it is on track for a 2016 sale. The additional land parcel of approximately 6,000 acres comprises the Industrial Complex tract and is being sold by Alcoa sequentially to the initial 27,777-acre transaction due to first refusal purchase rights and options held by third parties on the Industrial Complex which will trigger with the first sales transaction. Luminant currently operates two coal-fired power plants within the second tract, which also contains Alcoa’s temporarily idled aluminum smelter operations. Alcoa intends to sell all of its interest in the entirety of the real property, while leasing back and managing portions of it into the future.
Uechtritz stated, “The intent of the subdivision is several-fold. First, it allows us to separate and sell two distinctly different use type parcels. Second, it allows us to close the larger land and lakes portion in 2016 and the more industrial piece at a later date. Finally, it allows us the option to complete a sale with two different buyers in different years or even with the same buyer at different times.”
“We have completed the surveys and subdivisions as well as a recently completed Phase One Environmental Study, a current title report and a purchase and sale agreement form of contract. We have made significant progress in our marketing and level of interest is on track so I expect to be making a call for offers any day. As soon as I get a green light from my client, we are ready to go,” said Uechtritz.
For more information visit www.SandowLakes.com.
About Bernard Uechtritz / Icon.Global
www.Icon.Global is a leading sales, consulting, management and marketing group formed by international real estate advisor, Bernard Uechtritz. It was Uechtritz who led the global marketing campaign of the WT Waggoner Ranch in Vernon, Texas, listed for a record breaking $725 million and sold to American businessman, rancher and professional sports team owner Stan Kroenke in February of 2016. Uechtritz is also a court appointed receiver and global marketing consultant to wealth management, real estate owners and sales companies worldwide. For more information, visit www.Icon.Global.
About Briggs Freeman Sotheby’s International Realty
Briggs Freeman Sotheby’s International Realty is the oldest privately held real estate boutique in Dallas. With offices in Dallas, Fort Worth, Plano, Lakewood, Uptown, Ranch and Land, The Ballpark and Southlake, and more than 250 associates, the firm specializes in significant properties, from historic to contemporary, ranch to waterfront. The company’s deep-rooted connections, cutting-edge marketing and global strategies bring the extraordinary to all clients. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty.