DALLAS – J&B Construction has started the cleanup on 25 acres of just-purchased land laden with tons of concrete debris as the first step in redeveloping the Denton County site.
The acreage is located near the junction of FM 156 and FM 1384, just north of the Justin city limits. Nick Talley, senior vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services, represented the New Jersey-based seller, Maersk Inc., in the direct deal.
"The buyer plans to subdivide the land and sell development tracts once the remediation's done," says Talley, who secured the deal via a CORFAC referral.
J&B also was able to acquire the mineral rights as part of the deal. The flat farmland must be restored to its original point above the flood plain before it can be subdivided. It is situated in an extraterritorial jurisdiction, which means no zoning requirements and a variety of redevelopment options, including industrial uses.
"This was purely a cleanup investment move on J&B's part," Talley says. "It's a specialized buyer with the necessary heavy equipment for a redevelopment of this size and scope."
The land has roughly 200 feet of frontage along FM 156, which connects to TX 114 and offers easy access to Interstate 35W. The site is five miles northwest of Texas Motor Speedway and 9.5 miles from Fort Worth Alliance Airport.
September 11, 2017