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| Crossroads Centre |
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Summary Information
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| - Type : Mixed Use |
| - Location : Lewisville, TX |
| - Size : 411 acres |
| - Seller : RAMCO |
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| Property Information |
Purchased, in partnership with Baruch Properties, Crossroads Centre, which consists of three contiguous parcels of land aggregating 411 acres located on State Highway 121 near Lake Lewisville in Lewisville, Texas. Crossroads Centre is a zoned, entitled, and master planned development containing retail, distribution, office and multi/single family components. In 2003, TXDOT commenced construction on a $367 million highway expansion between the SH 121/I35E intersection to Custer Road/I45 intersection. Crossroad Centre will encompass 7,640 lineal feet of frontage on this new highway expansion. Adjacent to the entire northern and western boundaries of Crossroads Center, the City of Lewisville plans to develop a $34 million, 900-acre, master planned city park. This will be the largest park in Lewisville and will include baseball, softball, football and soccer fields, tennis courts, recreation center, hike and bike trails, natatorium and campgrounds.
Simultaneously with our closing, Opus West purchased 58.9 acres from our newly acquired Crossroads Centre project. Opus West is developing 3 warehouse/distribution facilities totaling 1,280,000 square feet.
JTL was instrumental in securing acquisition and development financing for this project from Colonial Bank.
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