FORT WORTH San Antonio-based Gunn Automotive Group has just closed on a 10.4-acre tract in Parker County, keeping its plan on track to break ground by early June on its first dealership in North Texas.
The site is part of a 23-acre tract with 1,000 feet of frontage along Interstate 20 W in Weatherford. Gunn Automotive has scooped up 500 feet of the unobstructed freeway visibility at 901 I-20 W, situated between the exits of Old Dennis and Bethel roads. The balance of the site 12.6 acres and its 500 feet of frontage is being marketed for sale.
Colton Wallis, senior associate in the Fort Worth office of Dallas-based Bradford Commercial Real Estate Services, and Nick Talley, senior vice president and managing partner, represented the sellers, Darryl L. Roberts and Rosemary Atwood, private investors from Weatherford. Jack Huff of Transwestern Dallas negotiated for the buyer.
Gunn Automotive is planning to build a 30,000-sf building and showroom, according to plans at the Weatherford Economic Development Department. The proposed $10 million Honda dealership will create nearly 80 jobs when it comes on line.
“The site is shovel-ready with utilities in place,” Wallis says. “It is a good piece of land for them with excellent freeway visibility.”
Weatherford, the county seat, is located 30 miles west of Fort Worth. The city has grown significantly in recent years, with its population now pushing 28,000. The steady rise in residents has translated into higher revenue from sales/use taxes and increased commercial building permits and home sales, new and existing.
Gunn’s Honda dealership will be positioned across the freeway from Academy Sports, Hobby Lobby and Weatherford Town Center. About one mile east is another major shopping area with top-name brands like JCPenney’s, Kohl’s, Target, TJMaxx, Walmart and Home Depot.
“A few years ago, Weatherford started offering tax incentives to spur development,” Wallis explains. “I grew up there so I know how much it’s changed. There are a lot of things happening.”
May 5, 2017