News
REVVIN’ DEVELOPMENT
February 24, 2011
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| HW Indian Springs purchased 160 acres of land at the NEC of I-35 and Hwy 1171 in Northlake with plans to hold for future high-density development. No purchase price was disclosed. Transwestern'sLester Day (who repped the seller, Texas Speedway Return, withWalter Floyd) tells us the property (aka Texas Speedway Center) was a bank REO. He says the Class-A site provides an investment that's primed for the next cycle of development (it's currently entitled for high-density residential and commercial uses). ?This was one of our most active listings of 2010,? he says, attributing the allure to its location on I-35W with close proximity to Alliance and good school districts. Lester tells us the buyer will hold until the site is market ready and utilities are located. Now that the deal is inked, Lester?s celebrating with some deep sea fishing in the Caribbean and somesnow skiing in New Mexico. (You have to leave Dallas for that?) |
