CBC Advisors Broker the Sale
ARLINGTON, Texas (October 2, 2017)—A ready-to-go development site with freeway frontage in southern Tarrant County has been sold to a Dallas-area developer. It’s the third land sale in four months at a major intersection in the high-growth corridor of US Hwy. 287.
Steadfast Heritage LLC has purchased slightly more than 5.4 acres of freeway-fronting land at 1700 Commerce Dr. in Mansfield from Herman Smith & Co. Wayne Burgdorf, associate broker and vice president of Arlington-based Coldwell Banker Commercial Advisors DFW, represented the local seller in the direct deal.
The buyer is dividing the acreage into three tracts, two of which are currently being marketed by Edge Realty Partners LLC as development sites. The third parcel, totaling 2.2 acres, is slated to be sold to an unidentified commercial user.
“Good development sites along Hwy. 287 are disappearing as Mansfield rapidly evolves into a thriving suburb,” Burgdorf says.
The light industrial-zoned land is positioned at the hard corner of Heritage Parkway and Commerce Drive, with direct access to both. Burgdorf also is marketing nearly 3.1 acres with freeway frontage on the opposite side of the four-lane Heritage Parkway.
Four months ago, Burgdorf sold 5.3 acres to All Storage for a 216,723-sf development and 35.5 acres to a local developer who’s planning to build a business park. Close by are Dr. Pepper Star Center, several master-planned residential communities and the Shops at Broad.
“In each case, the future build-out is geared toward providing basic services to a fast-growing suburb,” Burgdorf says. “And that’s what 3.1-acre tract that’s on the market is likely to attract as well.”