Last Tract With Central Expressway Access In Allen's Watters Creek Is Up For Grabs
Developers looking for land with direct highway access in Allen’s popular Watters Creek at Montgomery Farm mixed-use development have one final chance to scoop up a tract of land bordering Central Expressway (U.S. Highway 75).
Cushman & Wakefield’s Chris Harden, Ryan Duffie and Kyle Vinson are working alongside M4 Realty Advisors’ Kevin McGlaun to market a 7.7-acre tract at the southwest corner of Montgomery Boulevard and U.S. Highway 75 inside the Watters Creek development.
The land, which is designated for mixed-use development, offers a strategic opportunity for investors and developers to obtain space at the southern end of Watters Creek at Montgomery Farm, the listing companies said.
To the west, the site is bordered by multifamily and residential developments.
A partnership between PCCP and Trademark Property Co. put the land up for sale, offering space in an area running out of prime development parcels and benefiting from existing office, retail and multifamily density.
Watters Creek is a 53.4-acre mixed-use development anchored by a Market Street grocery store, retailers such as Anthropologie and Kendra Scott, and an assortment of name-brand restaurants, including The Cheesecake Factory, Mi Concina and PF Chang’s.
The center also is home to luxury apartments and a future Aloft Hotel.
“The tract of land would be an attractive location for nearly any type of development, especially as infill opportunities in the northern Dallas suburbs have become increasingly difficult to come by,” Harden said. “We expect this tract to garner interest from most all property types, including office, hotel, medical and residential.”
Allen, which is bordered by Plano to the south and McKinney to the north, is the 27th-fastest-growing city in the United States.
More than 1.5 million workers are located within a 30-minute drive of the Watters Creek mixed-use community.
With the land site visible from Central Expressway — a thoroughfare that carries 200,000 vehicles daily — any development or investor purchasing the land stands to benefit from signage opportunities and direct highway access.