Stream Realty Partners has assisted in selling 9.47 acres along U.S. Highway 75 in Melissa and adjacent to one of Texas’ most popular convenience store chains.
Green Acres Nursery & Supply purchased Lot 4 at Willow Grove Crossing at 1922 Central Expressway for an undisclosed amount. The garden center, based in California with seven locations, plans to open its second Texas location at the site. Its first Texas store is in Irving.
Stream Senior Vice President Demian Salmon and Associate Chap Bernet represented the sellers, Flamingo Daze LP, in the transaction. David Sacher of SHOP Companies represented the buyer. Stream is a national commercial real estate firm offering an integrated platform of services. The firm’s land experts leverage industry-leading technology to provide market analysis, feasibility studies, strategic site selection, residual valuations, highest and best uses, mapping, and demographic research.
The nearly 10-acre Melissa property is currently zoned for commercial development and offers city water and sewer utilities. It fronts U.S. 75, which sees more than 80,000 vehicles daily. The Willow Grove mixed-use development, comprising 650 multi-family units and 270 single-family lots, is directly behind the property. The Quarry at Stoneridge, Trinity Falls, Auburndale, and Hunters Ridge are among single-family developments in the immediate area.
“Markets north of McKinney, including Melissa and Anna, have experienced tremendous growth over the past few years,” Salmon said. “The population of Melissa is growing at a rate of 18.19% per year. To meet that demand, developers in single-family, multi-family, and retail especially have set their sights on this area along the U.S. 75 corridor. This particular plot is perfect for retail and benefits from great visibility and easy access to Central Expressway.”
Stream’s land division has brokered more than 200 transactions of more than 3,929 acres in the Dallas-Fort Worth area in the last several years. The total value of those deals was $481 million.