DFW LAND Acquires 112 Acres on Preston Road in Celina for Mixed-Use Development
CELINA, Texas--(BUSINESS WIRE)--A major land acquisition in one of North Texas' fastest-growing corridors is setting the stage for a mixed-use development in Celina. DFW LAND's Vijay Borra has purchased 112 acres from the Choate Family at the high-profile intersection of the Collin County Outer Loop and Preston Road.
Situated at the crossing of three major thoroughfares, the property is adjacent to two major retail projects: a Walmart Supercenter-anchored development, which is currently under construction and a future H-E-B-anchored development, further solidifying the area as a retail and commercial destination.
The transaction was brokered by David Davidson, Jr. of Davidson Bogel Real Estate (DB2RE), in partnership with his father, David Davidson, Sr. of Davidson Real Estate. "50 years ago, when Preston Road was a two-lane dirt road north of 635, I started building relationships along Preston and the Dallas North Tollway," said Davidson Sr. "I met Ben Choate in the late 80s and have been friends with the family ever since.'
The Choate Family has deep roots in Collin County. In 1855, John & Margaret Choat (the 'E' on Choate was not picked up until later) founded the oldest town in the County, Weston, when they and two other founding families donated 22 acres and 35 poles. Throughout the late 1800s and early 1900s the Choate Family farmed land in Weston and Celina which eventually became their home where they opened the Choate Family Pharmacy in 1922. Ten years following the opening of the pharmacy, Clyde Barrow, of the infamous Bonnie and Clyde, broke into the Choate Family Pharmacy accidentally mistaking it for the neighboring hardware store.
DB2RE has been retained by the developer, DFW LAND, to target retail, medical, hospitality, and office users, as well as identify a multifamily development partner, should residential components be included in the final master plan.
'The location on the Outer Loop at Preston Road places it at the epicenter of infrastructure investment, retail expansion, and population growth,' commented Borra. 'Working with a town like Celina is a breath of fresh air as they know how to successfully balance a pro development mentality while prioritizing the community's needs and history in a rapidly growing market, which is not easy.'
With regional infrastructure rapidly expanding alongside population growth the development is poised to meet surging demand for retail services, housing, and employment space. Planning is underway, and additional announcements regarding project partners and timelines are expected in the coming months.
About Davidson Bogel Real Estate (DB2RE):
Founded by David Davidson, Jr. and Edward Bogel in 2015, the base principle of the company is exceptional client service. DB2RE is a Dallas-based commercial real estate brokerage specializing in urban redevelopment and suburban land, retail, and mixed-use development throughout North Texas. The firm is known for its deep market knowledge and its role in some of North Texas' most impactful land transactions. As second-generation land brokers, David and Edward honor their heritage by including 2 in the abbreviated version of Davidson Bogel Real Estate (DB2RE).
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