County deed records show that the 77-acre town was purchased by a company controlled by Cuban last month. Mustang is located about 55 miles south of Dallas and is only home to a strip club and a trailer park, the report said. The town’s census records report it has a population of 23.
According to DMN, the area was founded in the early 1970s and was the local watering hole when the county prohibited alcohol sales. Mustang was on sale in 2017 for $4 million but was never purchased.
“I had a fair amount of interest in it, but it was priced too high — even when we bought it down to $2 million,” Dallas real estate broker Mike Turner told DMN. “The old strip club is not in good repair, but it could be redone for something. There is a resident alligator in one of the ponds.”
Cuban said he purchased the town because a friend needed to sell.
“I don’t know what if anything I will do with it,” Cuban said in an email to DMN.
Besides the town and the Dallas Mavericks, the billionaire counts a new drug company among his notable investments. The Mark Cuban Cost Plus Drug Company aims to reduce the price of pharmaceuticals and create low-cost versions of high-cost generic drugs. The company was founded in 2018 as Osh's Affordable Pharmaceuticals before changing its name to include Cuban’s after the billionaire invested in the company four months later.
Mark Cuban Cost Plus Drug Company relocated to Dallas last year and is constructing a pharmaceutical factory scheduled to open in Deep Ellum next year.