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GRAND PRAIRIE, TX-With its eye on its neighbor’s land for a long time, Grove Truck & Equipment has pocketed the deed to 89.1 acres after several other would-be buyers failed in their bids to take the tract. The acreage, situated one-quarter mile from the newly opened Texas 161, was on the market about one year for $1.2 million.

Pete Richardson, senior vice president of Henry S. Miller Commercial in Dallas, tells GlobeSt.com that Grove’s owner intends to use part of the land at 1350 W. Oakdale St. to expand its six-acre operation at 1201 Shady Grove Rd. and do ground-up industrial buildings on the balance. He estimates 15 to 30 acres of the site, which backs up to the Trinity River, is developable. “He’s waiting to see what the economy’s going to do right now,” Richardson adds.

Richardson says Grove’s owner had been persistent in his offers although other contracts had been put on the seller’s table in the past year. Each time, Richardson says John Wang of Dallas backed away from the deals. Then, the pendulum swung in Grove’s direction. “The seller finally decided he wanted to liquidate,” says the broker, who teamed with his brother Drew Richardson, a Henry S. Miller associate, to close the deal.

Grove Truck & Equipment takes up an entire block in the Great Southwest Industrial District in a mix of small warehouses and a large storage yard. “He’s been eyeing that property for awhile,” Richardson says. “The timing was right. He got a fairly good deal on it.”

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