LEWISVILLE, TX-A self-storage developer has replaced a site loss due to Interstate 35′s expansion with a 5.8-acre tract for a 100,000-sf project in Denton County. The build-out plan includes 14,000 sf of retail space.

Rearden Capital Corp. of Dallas will break ground May 1 on the Highpoint Oaks development, Leigh C. Richter, principal for Dallas-based Joe Foster Co., tells GlobeSt.com. “We’ve been looking in that submarket probably for a year,” she says. And, she adds, it was found through an e-mail newsblast that it was for sale. Jim Whitten, a first vice president with CB Richard Ellis, and Bill Reese of Reese Commercial, both in Dallas, represented the local seller, Highpoint Oaks Ltd., which is marketing the land without an asking rate.

The development site has frontage along Denton Tap Road and Texas 121. The architectural renderings aren’t available, but Richter says the buildings will have high-pitched roofs and stonework and masonry exteriors so that they blend into the business park. The Weitzman Group of Dallas has been tapped for the retail leasing, which Richter says will be neighborhood services.

The Highpoint Oaks dirt will help to ease the loss from a self-storage complex that is slated to close Jan. 1, 2008. Richter says it initially appeared that the interstate expansion would come close, but not threaten the year-old development. “The whole thing is going to be taken,” she says.

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