J&B Construction has started the cleanup on 25 acres of just-purchased land laden with tons of concrete debris as the first step in redeveloping the Denton County site.
The acreage is located near the junction of FM 156 and FM 1384, just north of the Justin city limits. Nick Talley, senior vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services, represented the New Jersey-based seller, Maersk Inc., in the direct deal.
"The buyer plans to subdivide the land and sell development tracts once the remediation's done," says Talley, who secured the deal via a CORFAC referral.
J&B also was able to acquire the mineral rights as part of the deal. The flat farmland must be restored to its original point above the flood plain before it can be subdivided. It is situated in an extraterritorial jurisdiction, which means no zoning requirements and a variety of redevelopment options, including industrial uses.
"This was purely a cleanup investment move on J&B's part," Talley says. "It's a specialized buyer with the necessary heavy equipment for a redevelopment of this size and scope."
The land has roughly 200 feet of frontage along FM 156, which connects to TX 114 and offers easy access to Interstate 35W. The site is five miles northwest of Texas Motor Speedway and 9.5 miles from Fort Worth Alliance Airport.
Maersk Inc. has sold 25 acres of raw land fronting FM 156 near its junction with FM 1384 in Justin to J&B Construction. Nick Talley, senior vice president and managing partner of Bradford Commercial Real Estate Services represented the seller in the direct deal.
NORTH TEXAS LEASES
DeCoty Coffee Co. has leased 16,051 sf of distribution center space in Premier Place, 3225 Premier Dr., Irving, from WPI Premier LLC. Brock Wilson, senior vice president and managing partner of Bradford Commercial Real Estate Services, and Joe Santaularia, first vice president, represented the landlord. Corbin Crews of CBRE Inc. represented the tenant.
Midwest Truck & Auto Parts Inc. has renewed 14,199 sf of warehouse space in RiverPark Business Center, 15600 Trinity Blvd., Fort Worth. Michael W. Spain, executive vice president and managing partner of Bradford Commercial Real Estate Services, and Clint Manning, market director, represented the landlord, SCG River Business Center. David Eseke of Cushman & Wakefield of Texas Inc. represented the tenant.
4C Healthcare Solutions LLC has signed 7,688-sf renewal and expansion, adding 2,133 sf of office space in the Quorum, 14850 Quorum Dr., Dallas. Melanie Hughes, senior vice president of Bradford Commercial Real Estate Services, and Bret Cooper, market director, represented the tenant. Marc Grossfield and Tabitha Layne of Sunwest Real Estate Group represented the landlord, MOC 5728 LLC.
Bradford Commercial Real Estate Services/CORFAC International is a full-service real estate company based in Dallas with an annual transactions volume exceeding five million square feet. The company manages and leases more than 20 million square feet, valued at $300 million, in North Texas for its strategic partners.