JPI Acquires 31.8 Acres Development Site In Grand Prairie From Martin Heirs

31.8 acres located at the northwest corner of Lake Ridge Parkway and Great Southwest Parkway in Grand Prairie, Texas, were sold in a transaction involving a development site. The asset is situated in a market that is experiencing a high demand for multifamily housing units.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: Not disclosed
• Address: Lake Ridge Parkway & Great Southwest Parkway
• Market: Grand Prairie
• Buyer: JPI
• Seller: Martin Heirs
• Brokers: John St. Clair & Davis Willoughby - Young Partners
• Acres: 31.8

John St. Clair and Davis Willoughby from Younger Partners facilitated the sale, representing the seller, Martin Heirs. The deal was a direct transaction with JPI, who recognized the potential of the land despite its topography and floodplain challenges. Discussions were necessary to ensure compliance with current multifamily standards as the property was initially zoned for this use in the 1980s.