The “Yellowstone” effect has struck again.
One of the most valuable and equestrian-oriented properties in North Texas, the TR9 Ranch 18 miles northwest of Weatherford, sold to a group planning to expand Western performance sports. The ranch is a neighbor of “Yellowstone” creator Taylor Sheridan’s Bosque Ranch.
The 860-acre ranch was sold by Teton Ridge, a Western sports media, lifestyle and entertainment company that owns the Cowboy Channel, which is headquartered in the Fort Worth Stockyards, and the American Rodeo, among other properties.
The ranch was purchased by Jason and Kisha Itkin of Houston, who also own Montana’s Theorem Ranch as well as Theorem Vineyards in Napa Valley. The Itkins are also big donors to the University of Texas football program.
No price for the transaction was released, but the ranch was listed at $45 million last year. Icon Global’s Bernard Uechtritz represented Teton Ridge in the sale. Uechtritz has sold several large Texas ranches over the last few years.
The Itkins made clear that the ranch will continue to focus on Western performance sports.
“We are committed to maximizing this ranch’s potential,” Kisha Itkin said in a news release. “We believe this ranch will be a key component of our plan to help grow Western performance sports. The elite facilities will provide unique opportunities for horses, trainers, riders and fans. The possibilities are endless.”
Jason Itkin also noted the connections between Texas and Montana ranches, such as those cattle drives represented in popular culture by Larry McMurtry’s prize-winning novel, “Lonesome Dove.”
“For generations, cattle drives between the two states shaped ranching traditions, horsemanship skills and the shared values that defined the American West,” Jason Itkin said in a news release. “By linking these two properties, we plan to celebrate that legacy while helping increase the nation’s appreciation for Western culture.”
Teton Ridge is backed by TWG Global, led by Mark Walter, an owner of the Los Angeles Dodgers, and Thomas Tull. Key investors in Teton Ridge are Jim Breyer and the Lee Bass family office.
Upgrades at Meacham
There will be about $30 million in upgrades going on at Fort Worth Meacham International Airport.
Modern Aviation, which acquired fixed-base operator America Aero in May 2024 from an affiliate of Keystone Group, said in a filing it plans to construct two new 32,900-square-foot hangars and a 4,375-square-foot office at both hangar A and B. The work is expected to begin in May.
Amarillo-based Modern Aviation has operations in 19 locations in the U.S. and Puerto Rico.
Modern Aviation’s new upgrades join private aviation real estate developer and operator Sky Harbour, which plans to operate a boutique dedicated airplane service location at the 100-year-old airport.
The West Harrison, New York-based company said it plans to break ground in late 2026 on a $17 million complex consisting of a pair of 32,000-square-foot hangars capable of housing the latest ultra long-range business jets.
Data center power play
CyrusOne and Eolian have announced a collaborative infrastructure deployment for a new data center campus, DFW7, currently under construction on Alphabet Street in far north Fort Worth.
By leveraging existing high-voltage transmission infrastructure and substation capacity adjacent to DFW7, CyrusOne and Eolian say they have achieved accelerated time-to-market for the strategic site. The collaboration colocates large-scale data center capacity at an existing grid-scale battery energy storage site known as Chisholm Grid, about 7 miles north of downtown. The partnership is expected to provide digital infrastructure capacity and accelerate time-to-market.
According to a filing with the Texas Department of Licensing and Regulation, the CyrusOne project in north Fort Worth will have at least $75 million in construction costs.
Merger
Fort Worth-based Architectural Fabrication and Justin-based Armetco Systems are merging. The two companies have been longtime collaborators on several projects.
Architectural Fabrication provides sun control solutions and custom metal fabrication, while Armetco Systems is a fabricator of architectural metal products.
Under the combined structure, Jeff Cash will continue as CEO, while Jeff Kenny will continue his role as owner and visionary.
Crescent Real Estate deals
Fort Worth-based Crescent Real Estate has acquired 2100 McKinney, a 350,000-square-foot Class A office tower located in the Uptown neighborhood of Dallas. With this acquisition, Crescent further strengthens its Dallas portfolio, which includes approximately 25 contiguous acres in the Uptown area.
Do you have something for the Bob on Business column? Email Bob Francis, business editor for the Fort Worth Report, at bob.francis@fortworthreport.org.At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
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