H-E-B has snapped up land for potential future use in Celina.
The grocer, based in San Antonio, acquired a 21-acre tract from Suresh Manyam of Squeaky Realty Partnership located at the northeast corner of Dallas North Tollway and Fred Smith Parkway.
The acreage is nestled in the massive Legacy Hills master-planned community from Farmers Branch developer Centurion American Development Group.
At build-out across its 3,200 acres, Legacy Hills is expected to include an 18-hole golf course, more than 7,000 single-family homes, 4,100 multifamily units and 100 acres of commercial development.
H-E-B purchased the property in anticipation of future growth in the region and the continued expansion of its stores, according to H-E-B spokeswoman Mabrie Jackson.
“Celina now leads the Collin County market with new home construction and building permits, surpassing both Frisco and McKinney,” said Rex Glenndenning of Rex Real Estate. “In real estate we always say, ‘Retail follows rooftops,’ and that is certainly proving to be the case here.”
Matthew Kiran of Rex Real Estate handled the negotiations on behalf of the seller, while DSF Capital’s Ernie Kennedy represented the purchaser.
H-E-B recently opened a new store at Fort Worth Alliance and new stores are in the works in Prosper, Mansfield, Rockwall, Melissa, Forney and a second in Frisco. The grocer previously acquired a site in Celina at the southeast corner of Preston Road and the Outer Loop.
New residential developments continue to flock to Celina. This year, new project announcements include the nearly 2,000-home Rainwater Crossing from Green Brick Partners Inc. and Hersh Family Investments and Hillwood’s plans for a 4,000-home community called Ramble.
