The mixed-use development site in North Fort Worth was marketedfor $72 million or $4.25 per sf. The Newport Beach, CA-basedLNR optedto take down the 305 acres in two stages, with the most recentclosing delivering the frontage on the recently completed NorthTarrant Parkway. "This property that they just bought controls allthe frontage on North Tarrant Parkway," says Steve Williamson,principal for Transwestern Dallas. "The retail is going in thissection." And if his calculations match up to LNR's final plan,there will be at least one million sf of retail planted on thesite.

"Not only is it the best development piece of property in NorthFort Worth, but I believe it's the largest commercial landtransaction in Fort Worth this year," Williamson tells GlobeSt.com.The seller, Diversified Asset Planning of Las Vegas, bought the land lastFebruary from Dallas-based Legacy Capital Co.

The 388-acre site has frontage on Interstate 35W, North TarrantParkway and Harmon Road. Its neighbor is Alliance Town Center,being developed by the Fort Worth-based team of Trademark PropertyCo. and Hillwood, and an unnamed lifestyle project planned byMargaux Development of Dallas and Ellesmere Corp. of Vancouver.