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Parker Road And Fm 1378

Malouf Interests Acquires 42-Acre Development Site At Parker Road & FM 1378 In Lucas
SOLDDevelopment Site

Malouf Interests Acquires 42-Acre Development Site At Parker Road & FM 1378 In Lucas

Parker Road And Fm 1378

Building Size

155,000 SF

Asset Type

Development Site

Closing

Jan 30, 2025

AI

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:

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.

Players

Michael Ytem

Younger Partners

Broker

8 deals

Broker
MI
Malouf Interests, Inc.Buyer

Lewisville Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93