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RLand Amasses Sites for 170,000-SF Plan

FORT WORTH-The developer adds the second corner at a 'T' intersection to get control of all commercial land near single-family developments and a four-school campus.

By Connie Gore | Updated on November 30, 2007

FORT WORTH-A Tarrant County retail developer has exercised an option to buy a second hard corner in North Fort Worth, scooping up the site less than 30 days after the “for sale” sign went up on the dirt. The decision puts the buyer in control of the only two commercial sites at the entrance to the 500-lot River’s Edge.

Kipp Whitman of RLand Properties in Colleyville plans to develop the site and the 20-acre sister tract at the “T” intersection of Texas 114 with retail strip centers and pad sites, totaling roughly 170,000 sf, according to Lester Day, principal in NAI Huff Partners LP. He tells GlobeSt.com that the projects most likely won’t get under way for six months, allowing time for concept plans to be drawn and right-of-way talks for the highway’s expansion to be finalized. Day estimates that four acres will be taken for the road-widening project.

Marlin Atlantis of Dallas, represented by Day, tagged the site at $2.50 per sf. The deal’s sole broker says Whitman came “close” to the ask, sliding in an offer to exercise his option shortly after the “for sale” sign was planted. Whitman now owns all 30 acres earmarked for River’s Edge commercial development.

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