THE COLONY—Dallas-based Cencor Realty Services Inc. has closed on a tract of land, with plans for a large retail development on a 48-acre site at the corner of the Sam Rayburn Tollway and Josey/FM 423.

According to the Dallas Business Journal, Cencor has been looking at the site years, said David Palmer, executive vice president overseeing development activities for the company, which is affiliated with The Weitzman Group.

“The fact that Nebraska landed at The Colony after looking at a number of sites in a number of states not only makes the land more valuable over time, but there’s a number of Nebraska-related users that are inquiring about land there,” Palmer said. “It will be a very active corridor over the next two to five years.”

Terms of the deal were not disclosed. Nebraska Furniture Mart recently sais it has begun marketing its $1.5 billion retail development surrounding its anchor store as “Grandscape” to other possible tenants.

Click Dallas Business Journal for the full story.