"The price is right," Steven Howard of Hillwood Investments told GlobeSt.com of this week's deal. Web-Real-Estate.com had approached Hillwood with the deal. Howard says there are no plans "at the moment" to list other Hillwood holdings outside the Dallas-Ft. Worth metroplex that have been deemed non-strategic assets. All of the properties already are posted on Hillwood's Web site. He did say other DFW holdings might be added to the listing.

Hillwood has been land banking the acquisitions for investment purposes from the early 1980s to 1991, Howard says, adding some had been picked up via auctions. "We strategically decided these are assets we're not likely to develop as Hillwood," he says.

The largest tract, 3,343 acres, is the Hunter Ranch in Denton, which entails frontage on the east and west sides of Interstate 35. Second in size is 662 acres in Northlake, the remnants of a 1,000-acre sale to Texas Speedway. The property is situated north of the speedway's ring road and practically neighbors Hillwood's Alliance development.