PRINCETON, TX--NOVUS Realty Advisors has completed the disposition of approximately 11 acres of raw land for client and former property owner, Wells Fargo Bank NA.
The prominently located piece of land is at the southwest corner of the US Highway 380 and Cypress Bend intersection, just east of downtown McKinney in Princeton. The land was purchased by F&L LLP, who plans to divide the property and sell commercial pad sites to end-users.
"As one of Dallas-Fort Worth's most traveled east/west thoroughfares, US Highway 380 continues to expand and spark growth along its edges," says Tom Grunnah, principal at NOVUS. "Princeton is directly east of Downtown McKinney and is quickly becoming a new area for growth. A Walmart Supercenter, just one-half mile east of the property, is under construction.
"Additionally, LGI is currently building several hundred new homes along the south side of the property. "This is an excellent investment for F&L, located in the middle of this area's next wave of residential and commercial growth."
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