Land Advisors Organization’s Dallas-Fort Worth office facilitates the sale of 8.5 acres to Wood Partners, complementing prior sale of nearby 13.9 acres to Leon Capital Group, for new multifamily developments.
Dallas, Texas - Long-time owners of two land parcels surrounding Firewheel Town Center completed the disposition of the second land tract, located at the NE quadrant of Firewheel Parkway and President George Bush Turnpike/SH-190 in the City of Garland, to Atlanta-based developer Wood Partners. Based on recent submittals to the city, Wood Partners plans to construct a Class A, 250-unit project on the site.
In December 2021, following a competitive marketing process, Land Advisors Organization facilitated the sale of the first tract of land, a +/-13.9-acre site located along SH-190, to Dallas-based developer Leon Capital Group which plans to construct a 344-unit luxury project. The two parcels, totaling nearly 22.5 acres, will yield approximately 600 multifamily units between the two projects. Both projects border a large greenbelt in Rowlett Creek and future residents will enjoy direct access to the City’s planned Firewheel Trail system.
“As one of the nation’s fastest growing metropolitan economies, Garland is a vibrant city with great leadership, quality schools and fantastic parks and open spaces,” said Austin Reilly with Land Advisors Organization. “The proposed Firewheel projects will bring needed residential units to the region and offer the added appeal of being only steps away from Firewheel Town Center.”
The parcels are located along Dallas-Fort Worth’s SH-190 corridor in Garland, Texas and adjacent to the popular, open-air, mixed-use Firewheel Town Center, a premier outdoor shopping, dining, and entertainment destination in the Northeast Dallas area.
Austin Reilly with Land Advisors Organization’s Dallas-Fort Worth office represented the landowner in both transactions.