posted on June 13, 2011 01:14
Dallas-based Anthony Properties announced Friday it acquired 800 acres of foreclosed land 30 miles east of downtown Dallas for an undisclosed price.
The property — located near Interstates 80 and 20 in Terrell — was purchased from Wachovia Bank. Anthony Properties' Frank Nuchereno worked on the transaction.
The 800-acre land purchased represents the final land buy for Anthony Properties' master-planned community, Las Lomas, said Nuchereno, director of real estate with the firm.
"With over 1.5 million square feet of retail, 325 acres of rail-served industrial land and over 10,000 homes and apartments, this will be a high-growth development for years to come," he said, in a written statement.
The group has purchased more than 5,500 acres in the cities of Forney and Terrell.
Anthony Properties owns 8,000 acres to 9,000 acres of undeveloped land in the Dallas-Fort Worth area. The group would like to purchase retail center property in the North Texas area, Nuchereno said.
The City of Terrell gave Anthony Properties incentives, but the details of the incentives were not immediately available Friday morning.
6/3/11, Candace Carlisle, Dallas Business Journal