±320 ac Snake River Sporting Club sold in Jackson Hole
DALLAS, TX – – Henry S. Miller Brokerage’s Investments-Land Division President, Robert Grunnah, CCIM and SVP, Tom Grunnah, CCIM recently arranged the disposition of a Wells Fargo REO asset in Jackson Hole, Wyoming. Even though one of the largest concentrations of million-dollar residences with a Tom Weiskopf-designed championship golf course and breathtaking Wyoming views, this asset was a unique and somewhat arduous assignment for the Grunnah team. Needless to say after intense marketing efforts, the ±320 acres was successfully sold and the Henry S. Miller Investments-Land, Wyoming Division now has a very qualified licensed brokerage team that can conduct real estate business within the state of Wyoming.
The exclusive Snake River Sporting Club is located approximately 16 miles south of the city of Jackson, Wyoming within Teton County. The foreclosure property was purchased by a Hedge fund out of Atlanta, Georgia, for an undisclosed acquisition amount. The fund plans to revive the existing 18-hole golf course as well as the 90% complete, 23,000 square foot high-end clubhouse. The Weiskopf-designed golf course was taken out of service in 2009, but has been maintained in such a manner that allows the course to be quickly restored to its 2008 rating as the 2nd best new course in the United States. The magnificent clubhouse only requires minimal cosmetic and mechanical work to be fully functional. Winding through the 320 acres and throughout the 18-hole golf course and residential lots is the beautiful Snake River which offers spectacular views and golfing challenges.
Teton County land is difficult to obtain. Of the 2,300,000 acres of land lying within Teton County, only approximately 75,000 can be privately owned. Originally there were 65 single family lots developed of which 43 were sold. Utilities are in place to service completion of single family construction on the remaining lots. Though a unique and challenging repositioning project, the Snake River Sporting Club will be an excellent investment opportunity once fully revived by the new owners.