Vaughn Miller, the firm's president of the retail division, tells GlobeSt.com that the remaining corners of FM 3040 and Gerault-Morris Road are owned by the Weitzman Group, Hopkins Commercial and Minyard Food Stores Inc., all Dallas headquartered and all focused on retail. Henry S. Miller Commercial got the eight-acre deed from Donald J. Carter, a one-time stakeholder in the Dallas Mavericks and the All-Star Bowling Lanes chain. The sale represents one of the last holdings that Carter owned from a 1980s' buying spree of Resolution Trust Corp. properties. The hard corner was carved from 15 acres, the balance of which contains a single-family house.
The promise for a piece of the corner has pushed pre-leasing to 100% in the stack of letters of intent for Flower Mound Market. "We have more letters of intent than we have space," Miller confides. The pre-leasing success has the Miller team scouting for more property.
The firm, marking its entry into that market, got a rare find for a Dallas suburb--land without a zoning designation. Miller says the process has started with Flower Mound officials, who like their constituents are closely guarding commercial development. But, he's confident that the project will break ground either by year's end or early 2004, with the firm's construction services team doing the building.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.