Prepped for prompt sale
T. Boone Pickens’ beloved Texas Panhandle ranch chops asking price by $50 million
In hopes of attracting potential buyers, the owner of the late T. Boone Pickens’ enormous Texas Panhandle ranch has slashed the asking price by $50 million more than four years after it went on the market.
The 64,672-acre Mesa Vista Ranch, located about 55 miles northeast of Amarillo, hit the market at $250 million in November 2017. In January 2020, four months after the death of the legendary Dallas oil tycoon at age 91, the owner dropped the asking price to $220 million. Now, two years later, the asking price has fallen to $170 million.
Boone Pickens Management Trust owns the ranch. Sam Middleton, owner-broker of Lubbock-based real estate brokerage firm Chas S. Middleton and Son, says the trustees decided to lower the list price in an effort to quickly sell the property and close out Pickens’ estate.
To deepen the pool of prospective buyers, Chas S. Middleton and Son and the co-listing agent, Hall and Hall, are marketing the entire ranch for $170 million but also offering it as two separate properties. The 48,964-acre west side of the ranch — including structural improvements, water features, and landscaping — is listed at $150 million. Meanwhile, the largely undeveloped 15,708-acre east side of the ranch is up for grabs at $20 million.
Middleton notes that Pickens invested about $400 million in the ranch, meaning the property almost certainly will be sold at a loss.
“We feel this new approach to marketing the property will generate substantial interest,” Middleton says, “and we anticipate winding up the sale of the property this year.”
In a 2017 LinkedIn post, Pickens proclaimed that he was ready to pass along Mesa Vista to a new owner. But he didn’t live long enough to see the ranch change hands.
Pickens started cobbling together the ranch in 1971 with his purchase of about 2,900 acres along the Canadian River. Now, Mesa Vista is the envy of any ranch-loving Texan. On their own, the living quarters are awe-inspiring:
- 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 gatehouse 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.
If that weren’t enough, there’s a 2,250-square-foot pub, a library, an art gallery, a 30-seat theater, and a more than 400-square-foot gun room.
Among the outdoor amenities are 25 miles of riverfront, nearly 20 lakes, and more than 20,000 trees. In addition, there’s a 12,000-square-foot kennel with space for 50 dogs, a small golf course, a tennis court, and a stone-and-wood chapel. Oh, and you can’t overlook the private airport, complete with a two-bedroom apartment for pilots.