The property asset involved in the transaction is a 42-acre development site located at the northwest corner of Parker Road and Southview Drive (FM 1378) in the market of Lucas. This site encompasses a building square footage of 155,000 and is poised for a commercial planned development featuring a grocery-anchored shopping center, a restaurant village, multiple adjacent pad sites, and a community park. Construction is scheduled to begin in the fourth quarter of 2025, with an estimated completion target set for 2026.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: Not provided
• Address: Parker Road & FM 1378
• Market: Lucas
• Building Square Footage: 155,000
• Acres: 42
• Buyer: Malouf Interests
• Brokers: Michael Ytem & Tom Grunnah - Younger Partners

Younger Partners Senior Vice President Michael Ytem and Executive Vice President Tom Grunnah represented the sale of this parcel, emphasizing the significant planning and city approvals that have been achieved over the years, which underscore their commitment to the development's potential. The project aims to enhance the retail and dining landscape in Lucas while contributing positively to the local economy.