CASE Commercial Real Estate Partners Closes on Sale of 121 Acres in Prosper, Texas
Dallas, TX, September 06, 2012 --(PR.com)-- CASE Commercial Real Estate Partners (CASE) is pleased to announce the sale of 121 acres of land within the Lakes of La Cima master-planned community to Gehan Homes and First Texas Homes. The property is located in Prosper at the intersection of La Cima Boulevard and First Street, about a 30-minute drive from Downtown Dallas.
CASE’s Land Services Team of Bruce Endendyk, managing director, John Endendyk, senior director, and Collin Prater, associate, marketed the asset on behalf of the seller, Branch Banking and Trust (BB&T Bank). BB&T Bank is a leading financial holding company that foreclosed on the property in September 2011. The property was sold for an undisclosed amount.
Gehan Homes purchased 32 acres of the 121-acre offering to the east of La Cima Boulevard and First Texas Homes purchased 89 acres to the west of La Cima Boulevard. The zoning will allow for a combination of 80-foot and 100-foot single-family lots.
“This property presented some hurdles in the sales process as we had several interested parties,” says B. Endendyk. “In the end the best solution for our client was to sell to a group of homebuilders who were capable of developing their own lots. This helped to achieve a higher price for the seller, as well as translated to a smoother transaction.”
The Lakes of La Cima development consists of 943 single family lots and 133 acres of retail land. The project is well-located along Coit Road just north of Highway 380 in North Dallas. The community has access to the Dallas/Fort Worth Metroplex via US 380, Preston Road, and the North Dallas Tollway. In addition, Lakes of La Cima is situated within the Prosper Independent School District, which has received an Exemplary rating for all three elementary schools and a Recognized rating for Prosper High School and Rogers Middle School from the Texas Education Agency. In the past, builders in the development included Avery Edwards, Gallery Custom Homes, Wall Homes, Newcastle Homes, Meritage Homes, and Bloomfield Homes.
About CASE Commercial Real Estate Partners
Founded in 1986, CASE Commercial Real Estate Partners is an independent full service commercial real estate firm headquartered in Dallas, TX with offices in Fort Worth, Austin, Houston, and San Antonio. CASE provides tenant representation, global corporate services, property management and leasing, lease administration, construction and project management, investment sales, development advisory, and sustainable workplace, among other specialized client services. Globally, CASE is part of the TCN Worldwide organization of independent commercial real estate firms providing complete integrated real estate solutions locally and internationally. With approximately $20.7 billion in annual transactions and over 80 million square feet of space under management, the organization ranks as one of the largest service providers in the industry. For more information, visit www.casecre.com.
CASE’s Land Services Team of Bruce Endendyk, managing director, John Endendyk, senior director, and Collin Prater, associate, marketed the asset on behalf of the seller, Branch Banking and Trust (BB&T Bank). BB&T Bank is a leading financial holding company that foreclosed on the property in September 2011. The property was sold for an undisclosed amount.
Gehan Homes purchased 32 acres of the 121-acre offering to the east of La Cima Boulevard and First Texas Homes purchased 89 acres to the west of La Cima Boulevard. The zoning will allow for a combination of 80-foot and 100-foot single-family lots.
“This property presented some hurdles in the sales process as we had several interested parties,” says B. Endendyk. “In the end the best solution for our client was to sell to a group of homebuilders who were capable of developing their own lots. This helped to achieve a higher price for the seller, as well as translated to a smoother transaction.”
The Lakes of La Cima development consists of 943 single family lots and 133 acres of retail land. The project is well-located along Coit Road just north of Highway 380 in North Dallas. The community has access to the Dallas/Fort Worth Metroplex via US 380, Preston Road, and the North Dallas Tollway. In addition, Lakes of La Cima is situated within the Prosper Independent School District, which has received an Exemplary rating for all three elementary schools and a Recognized rating for Prosper High School and Rogers Middle School from the Texas Education Agency. In the past, builders in the development included Avery Edwards, Gallery Custom Homes, Wall Homes, Newcastle Homes, Meritage Homes, and Bloomfield Homes.
About CASE Commercial Real Estate Partners
Founded in 1986, CASE Commercial Real Estate Partners is an independent full service commercial real estate firm headquartered in Dallas, TX with offices in Fort Worth, Austin, Houston, and San Antonio. CASE provides tenant representation, global corporate services, property management and leasing, lease administration, construction and project management, investment sales, development advisory, and sustainable workplace, among other specialized client services. Globally, CASE is part of the TCN Worldwide organization of independent commercial real estate firms providing complete integrated real estate solutions locally and internationally. With approximately $20.7 billion in annual transactions and over 80 million square feet of space under management, the organization ranks as one of the largest service providers in the industry. For more information, visit www.casecre.com.
Contact
CASE Commercial Real Estate Partners
Suzi Smith
972-759-7856
www.casecre.com
Suzi Smith
972-759-7856
www.casecre.com
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