Rearden Capital Corp. of Dallas will break ground May 1 on theHighpoint Oaks development, Leigh C. Richter, principal forDallas-based Joe Foster Co., tells GlobeSt.com. "We've been lookingin that submarket probably for a year," she says. And, she adds, itwas found through an e-mail newsblast that it was for sale. JimWhitten, a first vice president with CB Richard Ellis, and BillReese of Reese Commercial, both in Dallas, represented the localseller, Highpoint Oaks Ltd., which is marketing the land without anasking rate.

The development site has frontage along Denton Tap Road andTexas 121. The architectural renderings aren't available, butRichter says the buildings will have high-pitched roofs andstonework and masonry exteriors so that they blend into thebusiness park. The Weitzman Group of Dallas has been tapped for theretail leasing, which Richter says will be neighborhoodservices.

The Highpoint Oaks dirt will help to ease the loss from aself-storage complex that is slated to close Jan. 1, 2008. Richtersays it initially appeared that the interstate expansion would comeclose, but not threaten the year-old development. "The whole thingis going to be taken," she says.