This Week's Dallas-Fort Worth Deal Sheet: Tiny Lucas To Get First Grocery Store With 130K SF Development

A new 130K SF shopping center development will bring the first grocery store to a southern Collin County city with fewer than 10,000 residents.

In addition to the grocery-anchored shopping center, the development in Lucas will involve the construction of a 25K SF restaurant village with 15 adjacent pad sites and a community park. Work is expected to begin on the project in Q4 and be completed in 2026.

Lucas Crossing Ltd., led by Malouf Interests, bought the 42-acre parcel of undeveloped land at the northwest corner of Parker Road and Southview Drive from JCBR Holdings for an undisclosed price in a deal brokered by Younger Partners.

“This prime retail and commercial project has been years in the making,” Younger Partners Senior Vice President Michael Ytem said in a statement. “This project enhances Lucas’ retail and dining landscape while also creating a vibrant gathering place for residents and visitors that supports local businesses and fosters long-term economic growth.”

Younger Partners’ Ytem and Tom Grunnah represented the buyer and the seller in the transaction.

The planned development is expected to be a retail destination for residents of Lucas and neighboring communities like Parker, Wylie, Murphy and St. Paul.

“This project will drastically increase our sales tax base, which is great to bolster funds for our infrastructure and roads,” Lucas Mayor Dusty Kuykendall said in a statement.

PEOPLE

National law firm Hilgers Graben named Andrew Bean a partner in its Dallas office. He will play a role in the firm’s expansion of its litigation group nationally and throughout Texas. 

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Merriman Anderson Architects added Theresa Zavala as the firm’s interiors hospitality lead. With 25 years of experience, Zavala will lead the hospitality interior design team and be responsible for ensuring projects meet the highest design standards, align with client goals and stay within budget. 

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Pure Wellness promoted Haley Payne to chief commercial officer. Payne has been with the company for nearly 20 years, most recently as head of commercial. Payne will oversee the sales, marketing and account management teams, steering the company's expansion while providing client support. 

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VanTrust Real Estate LLC hired Mike Wiber as senior director of development services. From VanTrust's Dallas office, Wiber will plan, direct, coordinate and supervise the delivery of projects in collaboration with the company’s development team. Wiber has nearly 20 years of industry experience, most recently with Swinerton Builders in Dallas.

SALES

Head Capital Partners sold the more than 140K SF Independence Square development at 3100 Independence Parkway in Plano to Fidelity. Independence Square, which sits on more than 13 acres, was built in 1977 and renovated in 2005. The property boasts a 93% occupancy rate with a weighted average lease term of 4.6 years. JLL Capital Markets arranged the sale, with the company’s Chris Gerard, Erin Lazarus, Barry Brown and Adam Howells representing the seller.

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Epic Capital Partners sold the 116-unit Candle Chase Apartments at 6822 S. Hulen St. in Fort Worth to Delara Chase LLC. Built in 1969, the development was renamed Delara Chase Apartments. It will be completely renovated to include a clubhouse, all-new interiors and energy-efficient appliances in the units. Greysteel’s Doug Banerjee and Sterling Warren represented the seller in the transaction. 

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Colliers announced the sale of the flex industrial park at 7406 Mansfield Highway in Kennedale. The project was completed in 2024 and consists of more than 156K SF across six buildings on more than 13 acres. At the time of the sale, the asset was 36% leased. The seller was represented by Colliers’ Cody Payne, Michael Tran, Austin Edelmon and Nick Miller.

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Real estate investors Joe Pastora and Garrick Patterson purchased a 4.4-acre property in Dallas’ Design District. The nearly 113K SF mixed-use site spans 1800 Irving Blvd., 1715 Market Center Blvd. and 1805 Market Center Blvd. The transaction was completed on March 31. The property was purchased from Market Center Boulevard Owner LP, a partnership of Quadrant Investment Properties and Maryland-based FCP.

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Creation acquired a 38-acre site in North Fort Worth that will be developed into a three-building, Class-A industrial campus with adjacent ground-up retail. Located at the corner of Loop 820 and Marine Creek Parkway, MC820 Logistics is being developed in partnership with a real estate fund advised by Crow Holdings Capital. The project spans more than 451K SF and will feature amenities such as rear-loading docks, 473 parking spaces and 42 trailer stalls. 

LGE Design Build is leading the architecture and construction in collaboration with Manhard Civil Consulting, with the first phase expected to break ground this summer and completion to follow in late 2026. Holt Lunsford Commercial’s Matt Carthey, Thomas Grafton and Trey Goodspeed are handling the leasing.

LEASES

Mapletree Investments announced Geico leased 165K SF of office space at its Galatyn Commons campus. Geico will occupy the entirety of Building B, located at 2375 N. Glenville Drive in Richardson. Cushman & Wakefield’s Chris Taylor and Zach Bean represented Mapletree, while CBRE’s Anya Ostry, Doug Carignan, Travis Boyd and Christy Rhea represented Geico.

CONSTRUCTION AND DEVELOPMENT

Tricon Residential Inc. opened its 126-home build-to-rent community Tricon Trinity Falls in McKinney. The project was developed in partnership with HHS Residential. 

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Ikea broke ground on a nearly 109K SF store at 1801 E. Interstate 30 in Rockwall last week. The smaller-format store, which will be just one level, is expected to open in spring 2026. 

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The NRP Group opened the 324-unit Ascent at Mountain Creek mixed-income housing community in Dallas. Half of the units at the development are reserved for individuals and families earning up to 80% of the area median income. Located at 4868 S. Merrifield Road, Ascent at Mountain Creek features amenities such as a resort-style pool, a dog park, a fitness center with a spin room and a clubhouse lounge. 

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Trampoline park Sky Zone will open a 40K SF facility at 3333 Preston Road in Frisco. It will be the company’s fourth location in Texas and second in DFW.

FINANCING

S2 Capital completed a $450M refinance in partnership with Starwood Capital Group. The loan is secured by 11 Texas multifamily properties comprising nearly 3,200 units in Dallas and Houston. The properties were originally acquired through S2’s previous value fund in 2022. S2 Capital completed full interior renovations and modernized outdoor amenities at the properties over the last three years.