Centex has started laying the infrastructure base for Cimarron's expansion along Texas 78. Meanwhile, closings on the commercial tracts--one 11 acres and the other, 22 acres--should take place in June. Ray Utley, executive vice and division head for Henry S. Miller Commercial's land division, tells GlobeSt.com that the sellers have joined forces in a joint venture comprised of several landowners in the Wylie area. The buyers are commercial investors, primarily Texans, who intend to develop the tracts into neighborhood centers.
"Wylie is just a very nice town," Utley explains of the sudden interest by investors. Its positioning at the crossroads of Texas 78 and 190, the new toll road, means "you can get anywhere you want to in the metroplex," he emphasizes. As for the price of land in the suburb, that's a stat that Utley isn't discussing with more land contracts in hand.
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