Darrell Hurmis, senior vice president of Henry S. Miller's land and ranch division in Dallas, tells GlobeSt.com that the holding is being re-named Triple R Ranch. Raleigh intends to retain the working ranch status plus open it up for hunting. Down the road, the strategy is to parcel off developable acreage for ranchettes, says Hurmis. "It will be a fun farm for him," he explains of the buyer's intentions who signed final papers Wednesday.
The number of prospects lining up for the offering was "overwhelming," Hurmis confides. "I was amazed." But then, it's not often that a property of that size, that close to Dallas, comes to market. Six hundred acres of the 10,500 holding of Southland Cattle Co. are used for a commercial sand and gravel operation.
Hurmis and Ray Utley, a Henry S. Miller Commercial executive vice president, represented the seller. The Miller team worked the deal in concert with the ranch's asset manager, Atlanta-based Cousins Properties' Irving office. Representing Cousins were Charles Cotten, senior vice president, and Sam Fairchild.
The Trinity River bisects the 10,500 acres, which had been assembled under one owner between the 1950s and 1980s who considered developing a town along the estimated 5.5 miles of shoreline. The acreage also is five miles from the CF Hawn Freeway, which leads into Dallas. The nearest town is Combine, with a population of 1,781.
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