Huddle Up! 18 Acres Ready for Commercial Real Estate Touchdown in Southlake
Share News:
Talk about your primo piece of property. There’s more than 18 acres of Southlake turf that just went on the market.
Touted for its “excellent street coverage,” the parcel of land at 1101 N. Carroll Ave. is just waiting for its next big play. The property sits in Northeast Tarrant County and in the Carroll Independent School District, habitually ranked among the best in the state.
And yeah, football is a pretty big deal here, too. Southlake is home to people with Heisman-level achievement goals, sports-loving families, polished executives, and sparkling glam squads.
Land of Green
The land currently is zoned commercial in this land of green — Carroll’s school color which also just happens to be the color of money. Currently, it contains completely operational office buildings and one of the six original Carroll school buildings. The property seller? Well, go Dragons — it’s the Carroll Independent School District. This deal will require a little extra finesse with some mandatory state requirements, but tackling red tape in Southlake? Please. That’s like throwing a varsity Dragon starter into a scrimmage against a 2A school’s B-string.
The 18-plus acres could be used as a phased development or a large-scale master plan, according to Roxann Taylor, broker with Engel & Volkers Dallas Southlake. A major player in global real estate, Engel & Volkers has expanded its commercial department with specialists from New York and Germany to facilitate commercial development.
All the buildings can be demolished, but Taylor said some of the buildings are still in great shape. The land abuts the Westin Hotel, just across the freeway from Southlake Town Center. The land consists of some flat, usable terrain, making it usable for a retail destination, corporate headquarters, luxury development, or medical facilities. The property could be an open playbook for an inspired development wanting a real estate touchdown.
Besides the award-winning schools and award-winning sports teams, Southlake’s location is as desirable as a sideline pass during playoffs. With both Southlake Boulevard and Highway 114 nearby, this location is minutes from DFW International Airport.
Commercial Playbooks
So, the play clock’s ticking down on a big win for a commercial real estate pro. All questions about the property must be submitted by Aug. 1 with all final offers submitted by Aug. 8. Since the school district is selling the property, the school board will approve the final sale. Interested teams should bring their best offense, so to speak.
“The $13.3 million is the lowest the school district will accept,” Taylor said. “We believe we will get between $15 and $19 million for this.”
Some MVP developers need to get out their playbooks and coach this trophy-winning piece of real estate to launch a real estate dynasty. The stretch of land is sitting there like a high school standout just waiting for the college coaches to bring the offers. A few of the property’s offices are currently occupied, but showing appointments are available with a 24-hour notice.
In Southlake, where everything’s shiny like a state trophy, this land is as dazzling as the Emerald Belles dance team kicking their hats under the Friday night lights. Who’s game?
