Buyer Euro American Advisors, which has a Tampa acquisitions office, won't say who the seller is, but is saying that the team already has started negotiations with end users in the hospitality industry. GlobeSt.com is told by one of its sources that the seller was the Box family of Dallas.

Euro American Advisors' managing director Bruce Burdge tells GlobeSt.com that the plan calls for infrastructure construction, but the amount and cost hinge on the number of users ultimately taking a chunk of the tract. He says the investment group was in negotiations for six months for the acquisition being called Airport Crossing.

Situated at the intersection of Coppell Road and East Northwest Highway, the land is right on the cusp of development, sharing one boundary with the Dallas-Fort Worth International Airport, about a half block from Texas 26 and three blocks south of Opryland, which is marked to open in April 2004. Euro American has a three- to five-year development plan in place for the acreage.

The buyer's portfolio consists of office, retail, multifamily and industrial, all on the East Coast and in the Southeast US. But, Dallas-Fort Worth is where it banks on land to turn a profit. The investment group also owns 1,086 acres in South Dallas and 191 acres or better known as Meacham Rail, home to the Mattel Corp. warehouse. Burdge says the group has been working DFW land deals for 15 years.

Mike Spiker, Euro American's investments director in Tampa, brokered the purchase. Mike Rader of Cornell Rader and Prime Rail Interests, both in Dallas, represented the seller, who's owned the tract for several years, Burdge says.

Euro American Advisors is headquartered in The Hague, with an investor relations office in Dusseldorf, Germany. The Tampa office handles asset management and acquisitions.