Retail/Industrial Property Sale Seen as Catalyst for Farmers Branch Redevelopment
7 Jul, 2011, Dallas
Cushman & Wakefield of Texas, Inc. (C&W) announces the sale of a 15,040-square foot retail/industrial building located on 1.7 acres of land at 3380 Belt Line Road in Farmers Branch, Texas. Jean Russo, Senior Director in C&W's industrial brokerage group, represented JLCC Investors LLC, an investment entity formed by Jose and Cristina Cuevas, in purchasing the property from M&M Investors. Chad Albert of NAI Robert Lynn Company represented the seller.
JLCC Investors LLC has contracted with a local project manager to significantly improve the aesthetics and functionality of the property. Situated between Marsh Lane and Webbs Chapel Road, 3380 Belt Line Road was previously leased by Dobson Floors. Jose Cuevas, part of the new ownership group, is also the franchisee of 1800flowers/Dallas, which will lease the improved facility, expanding from its current location and creating the largest florist in North Dallas and the only florist in the City of Farmers Branch.
"A recent study commissioned by the Farmers Branch City Council suggested a strong case could be made to move the retail bookend from Marsh Lane to Webb Chapel. The announcement of our new corporate partner 1800flowers/Dallas validates this study and allows Farmers Branch to strengthen its economic base from the investment of a quality and sustainable retail redevelopment project," said John Land, Economic Development Manager for the City of Farmers Branch.
"This highly visible corner lot on Belt Line, along with the planned improvements, is a perfect fit for 1800flowers/Dallas' expanding business needs," said Ms. Russo.
Completion of the renovations and upgrades to the facility are expected by August, with move-in by 1800flowers/Dallas to take place by September of 2011.