Retail Plans Working for Wylie Acreage

WYLIE, TX-A North Texas developer has latched onto a 6.7-acre hard corner at a “T” intersection with Wal-Mart and a 7-11 convenience store as neighbors in a Collin County suburb about 30 miles northeast of Dallas.

Wessington Properties LLP will break ground in late spring to split the acreage at the crossroads of FM 544 and McCreary Road so it can develop a self-storage complex, set to deliver in the fall, and retail pad sites. The Dallas-based seller, Wylie Retail Partners LP, owned the land for five years, selling it for the going rate of $5 per sf to $7 per sf, Eric Berlin of Venture Commercial in Dallas tells GlobeSt.com. About 2.5 acres have been earmarked for pad site development.