X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-The preferred builder for Family Dollar Stores Inc. has spent in the mid-$400,000 range for about 2.5 acres in the upscale Highland Village neighborhood of Dallas.

The site purchase drives a plan by the discount retailer to move away from freestanding locations to anchoring small shopping centers. The strategy starts on a tract on the northwest corner of Kingsley and Plano roads, where the plan is to build a 21,000-sf center.

HSI One LLC of Edmond, OK bought the site from Tarragon Realty Investors of Dallas. Ground will break in early first quarter 2003, Gerry Fields of Henry S. Miller Commercial in Dallas tells GlobeSt.com. He and Henry S. Miller Commercial’s Dan Spika represented the Oklahoma builder. Westy Young of the Frey Group in Dallas negotiated on the seller’s behalf.

Fields says the Highland Village center will be one of the first to roll out in the retailer’s changing strategy. The Henry S. Miller team, which gets the leasing job as well, is talking to another national retailer for 6,000 sf in the project.

Fields says Family Dollar has taken at least 25 freestanding sites in the Dallas-Fort Worth metroplex, but is now looking at several locations for the shopping center strategy, aimed at developing 20 to 25 centers per year in the Southwest markets. In other words, stay tuned because more land buys loom.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.