CROWLEY, TX-Domus Fund III of Dallas plans approximately 250,000 sf of retail and office space on a 27-acre site, one of the few parcels available for development on a section of Highway 1187 here where growth has been booming. Lester Day with NAI Huff Partners LP in Fort Worth, who represented the Colleyville-based seller of the property, Crowley Partners Ltd., tells that the buyer has landed the last of the only three intersections on this particular stretch of highway that is available for development.

“It’s a controlled access highway, and it’s a very high growth area, so the supply of intersections and corners is limited,” Day tells One of the other two corners is already built out and the other is earmarked as the site for a Wal-Mart, so the buyer is getting a site in an area with high barriers to entry and ample promise because of the development there in recent years, Day points out.

The property, within the Crowley city limits, is already entitled and is served by city utilities as a result of the development in the area. Besides being the last of the three corners in the area, “this is the only one of this size that has this capability for future big-box retail,” Day comments.

Day adds that the development site attracted several offers, all of them from prospective retail and office developers, before the seller ultimately chose Domus, which was represented by Jay Holman. “Everybody saw it the same way, that the highest and best use of the property would be for retail/office,” Day says.

The seller, anticipating that the development of this stretch of 1187 would generate demand for retail sites, acquired the property just before construction began on the new stretch of highway. With 1187 representing the next outer loop around the Greater Fort Worth area, and with utilities and infrastructure in place from the housing boom, the way has been paved for the commercial sites to develop.

Day points out that even greater demand will be created when all of the existing and new roads connect in the loop, including 35W, 377 and the new 121T tollway. The tollway, slated for completion in 2010, will connect to Downtown Forth Worth.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.