Briggs Freeman Sotheby’s International Realty to Market Rockdale
Real estate advisor Bernard Uechtritz announced that he will act on behalf of Alcoa Inc. in the sale of the Company’s central Texas land holdings known as Sandow Lakes Ranch, with global marketing to begin immediately.
The ranch, valued at more than $250 million, is located within the “Golden Triangle” of Texas, 45 miles east of downtown Austin, Texas. With over 33,700 acres, the property comprises a state-of-the-art conjunctive use water catchment and distribution system, industrial complex, coal reserves, mining operations, and productive agricultural land. The expansive ranch encompasses one of the largest private ground, surface and water rights opportunities available in Texas. The proposed multi-billion-dollar Vista Ridge pipeline by the San Antonio Water System to distribute ground water to San Antonio, once built, will cross the southern end of Sandow Lakes Ranch.
From the north end of the property in Rockdale, TX to its southern end near Elgin, TX the versatile Sandow Lakes Ranch spans 30 miles. The property is a multiple award-winning and nationally-recognized example of land reclamation and environmental stewardship.
“I am pleased to market this water and mineral-rich property which represents a valuable revenue opportunity to prospective buyers worldwide,” said Uechtritz. “The property has vast mixed use potential from water rights, farming and recreational opportunities, as well as commercial, residential, conservation and industrial opportunities, all with an established turnkey infrastructure, including intermodal facilities.”
The sale will include the land and select improvements, including 100% of the proven water rights, as well as 100% of owned mineral rights. Once sold, Alcoa plans to lease back portions of the land for its industrial and power generation interests.
Uechtritz added, “We expect this property to sell quickly, as I believe this opportunity to be unprecedented in the region and state, and perhaps even nationally. We have prepared a rapid and robust global marketing campaign, and have in place an enormous electronic data room as well as on site due diligence available for immediate access. Based upon the level of interest so far, I expect to make a call for final offers early in the campaign.”
Uechtritz, a Sotheby’s International Realty Global Network associate, is an international real estate advisor for the Briggs Freeman Sotheby’s franchise in Dallas, Texas and founder of International Icon Properties. Source: PRNewswire