Ready to sell
Texas oil tycoon's prized Panhandle ranch shaves $30 million off asking price
Less than a year after the death of legendary Dallas oil tycoon T. Boone Pickens, the price of his enormous West Texas ranch has been cut by $30 million.
The 64,809-acre Mesa Vista Ranch, about 85 miles northeast of Amarillo, went on the market in November 2017 for $250 million. The current owner of the ranch, Boone Pickens Management Trust, decided January 14 — four months after Pickens’ death at age 91 — to trim the asking price to $220 million. Trustees hope to sell the property by the end of this year, says Sam Middleton, owner-broker of Lubbock-based real estate brokerage firm Chas S. Middleton and Son LLC. Middleton’s firm shares the listing with real estate brokerage firm Hall and Hall.
Interest in the ranch has gone up “fairly significantly” since the price went down, Middleton tells CultureMap.
“We have had inquiries from Forbes 400 individuals, investment groups, and foreign [investors], but we realize a property of this magnitude has a very limited number of potential buyers,” Middleton says.
“Boone was reluctant to sell the ranch, but because of his declining health, he was encouraged to place the ranch on the market while he was still alive. We received limited interest in the ranch,” Middleton adds. “Boone continued to travel by air from Dallas to the ranch nearly every weekend, leaving Dallas on Friday and returning to Dallas on Monday. He loved this ranch.”
In November 2017, Pickens wrote in a LinkedIn post that he was ready to pass along the ranch to a new owner.
“Selling the ranch is the prudent thing for an 89-year-old man to do. It’s time to get my life and my affairs in order,” Pickens wrote. “There are many reasons why the time is right to sell the ranch now, not the least of them ensuring that what I truly believe is one of the most magnificent properties in the world winds up with an individual or entity that shares my conservation ethic.”
It’s hard to debate the magnificence of the property. The living quarters alone are jaw-dropping:
- Lodge with 25,000 square feet of living space, and about 10,000 square feet of porches and patios.
- Lake house with 11,500 square feet of living space, and more than 3,800 square feet of porches and patios. The front door was the original front door of crooner Bing Crosby’s home.
- Three-bedroom “gate house” with 2,300 square feet of living space, an attached two-car garage, and a deck.
- Family house with 6,000 square feet of living space, and about 2,500 square feet of porches and patios.
- Small structure with a game room, sleeping area, and gym.
Among the other amenities are a 2,250-square-foot pub, a library, an art gallery, a 30-seat theater, and a more than 400-square-foot gun room.
Outdoor features include 25 miles of riverfront, nearly 20 lakes, and more than 20,000 trees. There’s also a 12,000-square-foot kennel with space for 50 dogs, a small golf course, a tennis court, and a stone-and-wood chapel. Last but not least, the ranch comes with a private airport that includes a two-bedroom apartment for pilots.
Pickens began assembling the ranch in 1971 with his purchase of about 2,900 acres along the Canadian River.
“Mesa Vista’s unique combination of a pristine prairie and world-class amenities have provided an unparalleled venue for some of the nation’s most influential political and business leaders to share their insights on matters critical to our times — national security, economic policy, political involvement, philanthropic investment, and energy issues,” Pickens wrote in 2017.