The Commerce, CA discounter acquired 3901 Colleyville Blvd. from Blue Star Land of Plano, which had the long-vacant holding on the "for sale" or "for lease" market while working through a subdivision plan that kept three acres in hand for its future plan. Talks produced a closing price close to the $1.5-million ask.
Chas Williamson of United Commercial Realty/ChainLinks in Dallas, tells GlobeSt.com that he contacted the buyer's broker, Myles Kelley of Realty Ventures in Fort Worth, to get the ball rolling. Three months later, the deal closed for the retail warehouse-zoned land.
Blue Star Land's acreage, which held the lumberyard operations, fronts Cheek Sparger Road while 99 Cents Only gets frontage along Colleyville Boulevard. The rear yard contains a 20,000-sf structure and a pair of 10,000-sf buildings.
Williamson says Blue Star acquired the site two years ago. Even then, Payless was long gone from a retail stretch on Colleyville's border with North Richland Hills.
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