Land Speculator Grabs 33 Acres Along Interstate 35

The Interstate 35 construction won't be done until June 2006 so "there was not a lot of urgency because of the road work," Richard Lapp with Joe Foster Co. explains to GlobeSt.com. He and Ron Thomas, also with the Dallas-based brokerage firm, represented the seller, Hammersmith Development Co. of Lewisville. Bill Davidson with local firm, First Commercial Realty, represented the buyer of record, Lewisville LP. Susan Lawler with Alamo Title Co. in Fort Worth handled the closing.

Lapp says the buyer intends to sit tight until the road work's done and then divvy the land into commercial parcels. He says the acreage presently is inaccessible, but ultimately will have service road frontage at the interstate's intersection with FM 407, where a ramp is part of the plan.