J&S Fletcher Family Partners anticipates breaking ground in second quarter 2004, Tom Grunnah with Dallas-based Henry S. Miller Commercial tells GlobeSt.com. With the deal now closed, the strip center's size and design have moved onto the drawing boards.
Grunnah says the Fletchers spent six months to a year looking for a site in their hometown before settling on the Interstate 35 frontage road location between Teasley and Sam Bass roads. The interstate exposure definitely was the deal-maker, he says, noting the buyer has secured a high-traffic location in the midst of a thriving retail corridor.
Paul Harmon, also with Henry S. Miller Commercial, represented the seller, a private investor from Denton. The land came to market at $7 per sf, but negotiations cut $1.40 per sf to push the deal to the closing table, according to Grunnah.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.