The land was on the market for about a year, Ben Brown, an associate with Fort Worth-based Woodmont Co., tells GlobeSt.com. But, the buyer isn't putting all his stock in the Lowe's deal. Preliminary talks have been held with a hotel developer and convenience store operator, both eager to become a part of the historical town's "weekend get-away" trade.
Brown says the Fort Worth-based buyer was negotiating for six months on the acreage with seller, Valu+ of Texas, an affiliate of the TruValu hardware chain. He's not disclosing any numbers other than to say "we got it at a good price." An intent to buy and hold fell by the wayside when Lowe's showed interest in the property, which is along a main thoroughfare in the town's southeast sector.
Brown brokered the deal for the buyer and is steering the talks with the prospective takers. Woodmont associate Jason Cooper represented the seller.
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