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As Seen in the Wall Street Journal, Large Fort Worth Ranch Asks $95 Million

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September 29th, 2017

In the same family for five generations, Veale Ranch’s roughly 3,790 acres borders the city limits.

 

Veale Ranch

Approximately 3,790 acres, Veale Ranch borders the city limits of Fort Worth, Texas. PHOTO: SIGGI RAGNAR

By Sarah Tilton

An enormous ranch that borders the city limits of Fort Worth, Texas—and has been in the same family for five generations—is heading to market seeking $95 million. Known as Veale Ranch, the approximately 3,790-acre working cattle ranch is a “very rare” offering due to its size and location: The ranch gate is only 11 miles from downtown Fort Worth, said Bryan Pickens of Republic Ranches, the listing agent. Mr. Pickens said the property could be maintained as a ranch, or could become a fully master-planned community with a capacity, if developed, for 33,000 residents. There are already single family developments on the eastern, southern and western edges of the ranch. “I think we all realize that the land will be developed at some point,” said David Ekstrom, a member of the Veale family who lives on the ranch and is one of its owners through a partnership. “I’m not wild about that, but given our location, that’s the economic reality. We’re hopeful that our buyer will be in a position to enjoy the property for ranching and recreation for a generation or so, and then reap the benefits of development offered by our prime location.”

Veale Ranch

The property has been in the family since 1935, said Ward Veale, a rancher and one of the owners. PHOTO: SIGGI RAGNAR

The property has been in the Veale family since 1935, said Ward Veale. A rancher, a partowner and a family member, he lives on the ranch in a house with a view of downtown. “Riding horses and gathering cattle here was a delight,” said Mr. Veale, 67. The East Home has an approximately 8,000-square-foot house with six bedrooms, eight full baths and two half baths. The house has a media room, three fireplaces and an infinity pool. There are also equestrian facilities including a horse barn and riding arena. The West Home, built in 2004, has an approximately 3,500-square-foot home with four bedrooms. It includes a pool with a waterfall as well as a guesthouse. At the original ranch headquarters there are two smaller houses and two barns. There are also around 210 to 220 head of cattle, available as a separate negotiation. Mr. Ekstrom said the family is selling due to “(t)iming.” “Mine and Ward’s generation are ready to pass the management of the property on, but the next generation of our family are pursuing their own interests, from construction management to cybersecurity to social psychology,” he said in an email. “I dread having to leave.”

Read article at Wall Street Journal »

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