Split into a northern and southern portion, NRG’s total holdings consist of approximately 9,938 acres located between Highways 31 and 287 and bordered by the Trinity River to the west. The northern edge of the property sits about 75 miles
southeast of Dallas, Texas, just south of the town of Malakoff. Owned by an NRG subsidiary, Texas Genco Services, LP, the site was originally purchased by Houston Lighting & Power (HL&P) for construction of a coal mine and power plant, though
the project was never built. Through several acquisitions HL&P was eventually acquired by Texas Genco.
NRG has no current or future development plans for the site and has sold several portions of the property in recent years. The majority of the property is leased for cattle grazing and agricultural purposes. While some plugged oil wells do exist on
site, previous owners made extensive mineral reservations leaving only small fractional ownership of oil and gas rights with Texas Genco. Additionally, North American Coal Company retained all coal and lignite rights prior to Texas Genco ownership. Documented by NRG, brine leaks from a pipeline operator do exist on a portion of the property.
Acreage (Deeded & Leased)
Tracts 2 – 4 Grouping
Tracts 5, 6 and 7
Tracts 9 – 12
Tracts 13 – 16
Summary of Terms:
- A 6% buyer's premium will be added to the final bid price(s) to determine the total contract price(s).
- A 10% earnest money deposit of the total contract price will be due immediately from all successful bidders.
- The property is being sold "AS IS, WHERE IS" and without any contingencies including financing.
- Closing will be set 45 days from the auction date or as soon thereafter as closing documents are available
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Our Hall and Hall broker, Randy Shelton, kept us in the loop as though it were. Our sale hinged on that of larger surrounding parcels, and when an initial offer fell through, Randy went back to the drawing board and found a suitable buyer who shared our values. That meant a lot to us, as our property had been in the family for more than 100 years.
From the first time I walked through the door, I sensed Hall and Hall’s highest goals were to understand who I was and build a relationship, to understand what made my property special, and to find the buyer. Their discipline and focus was apparent. Throughout the entire process, their approach towards reality was different from the experiences I have had previously. Genuine would be the word I would use to describe everyone at Hall and Hall.
I interviewed 4 agents and selected Hall and Hall because of the agency’s reputation for expertise in high end ranch property and global marketing. I had the pleasure of working with Tim Murphy on the sale of a family property in the Paradise Valley, Montana. We believe he represented our family interests well and contributed to the integrity of the property by joining together buyer and seller and a shared love for this special place in our lives.
Bill McDavid was an outstanding and very patient partner in this sale. His expertise in the market and marketing of the property was excellent. I would use him again in a heartbeat to either buy or sell a ranch property.
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In 1988, Joel Leadbetter became a partner at Hall and Hall where he has been instrumental in completing complicated, high-profile deals such as the recent sale of Texas’ historic 512,000-acre Waggoner Ranch.
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