COPPELL, TX-The first site for the newly formed Town Centre Bank has been bought after a six-month search and drive-bys of 20-some sites. Ground will break in three months on a 10,000-sf bank and headquarters, with completion set for first quarter 2005.

The winning location is close to the intersection of Texas 121 and Denton Tap Road in the Dallas County suburb of Coppell. The search by Town Centre Bank’s Edward Thomas, president, and Robert Buhholz, chairman, was confined to Coppell, where frontage along Denton Tap Road runs from $9 per sf to $17 per sf.

Paul Stockard with NAI Stoneleigh Huff Brous McDowell tells that he found the winning site on a routine drive-by and saw a sign stuck in the ground. Three months later, the 1.6-acre deed changed hands in an all-cash buy at a “market rate,” he says. Carter Butler with JT Evans Co. of Dallas represented the seller, Denton Tap Development. Stockard says the new bank’s principals have yet to decide how many locations they will open.

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