The Memphis-based Spectra Group got the 1.9-acre tract at the corner of Old Denton Highway and Texas 190 by picking up a contract from Charter Holdings LP, led by Ray Washburne of Dallas, Stephen Summers with Dallas-based Staubach Retail Group tells GlobeSt.com. Land in the immediate area is fetching $7 per sf to $10 per sf.
Summers says the deal's been working since November 2003 to get the northwest hard corner from Carrollton Properties Ltd. Clay Evans with SC Cos. of Dallas represented the seller. Staubach's Jason Puig and Summers worked the buy side, which already has two tenants lined up for space--Cash Store and EB Games. Staubach's Lynn Dowdle is steering the pre-leasing campaign for a project set to rise with a cross-access parking lot agreement with a Wal-Mart Supercenter and Lowe's Home Improvement Center. "It's a going-home corner," Summers says of the just-sold site.
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