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3/04/24
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SLX Development purchased a 14-acre parcel of land in McKinney, TX. SLX is in the planning stages to develop a mixed-use property on the site, located at the corner of El Dorado Pkwy and Stonebridge Dr.
The land was sold by Peak Development Partners, who originally acquired a total of 18 acres in October 2023. The company will break ground in the second quarter of 2024 on four retail pad sites on the remaining four acres, which will feature a restaurant, auto service, car wash and other uses. These pads are scheduled to be open by year end or Q1 2025.
The parcel is ideally located at a signalized intersection across the street from McKinney Methodist Hospital, with more than 350 employees, as well as a new H-E-B anchored retail center. The area has also experienced recent residential and medical growth with several new projects on the horizon.
“We were attracted to the property because of the area’s recent population growth and strong fundamentals,” said Garrett Johnson, Managing Partner, Peak Development Partners. “We will continue to acquire land to develop much needed retail in supply constrained markets throughout the United States.”
Peak Development Partners represented itself in the sale. SLX Development was repped by Evan English and Tim McNutt of DBA Real Estate. The price was not disclosed.
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