Greg Morris of Dunn Commercial LP in Arlington, who carried the transaction to closing, says the last eight months have been spent working out legalities of passing along land for the first time outside the Bransom family. The deal was bogged down with legal issues like tracking down an individual for a sign-off who three decades ago was given exclusive rights to a private airstrip right in the heart of the Bransom Farm.
Morris tells GlobeSt.com that Jessie Bransom inherited 124 acres from her late husband along with the original document issued to his great-grandfather, Benjamin Bransom, by Gov. H.R. Runnels, a Texas leader who bested Sam Houston in the 1857 election. Jessie Bransom's decision to sell outside the family name wasn't a particularly easy one to make, but Morris steadfastly believes "it was time to sell."
Morris says the rare listing reeled in several offers for part of the one-time cattle ranch, but only one from an investor, Victor Torres of nearby Burleson, who wanted it all and was willing to come close to the $800,000 asking price for acreage with 2,000 feet of frontage along Shaffstall Road, which is ticketed for widening to four lanes as part of the Hidden Creek Parkway expansion, and strategically positioned in a high-growth residential and retail corridor with an interstate link to Downtown Fort Worth. In recent years, Torres has bought several large tracts in the immediate area.
Morris says the Bransom land, with 30% laying in a flood plain, is three miles southwest of Interstate 35 and practically straddles the Johnson-Tarrant county line. Three years of multifamily, single-family and retail development in the Burleson area have made the county line barely discernible as progress makes a hard push southwest of Fort Worth much like it has done north of Dallas.
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