US 380 at Old North Road - Lot 1 (multifamily), Denton, TX 76209

YOU WAITED TOO LONG! IT’S SOLD. BUT DON’T FRET! ANOTHER 2,000+ UNITS OF LUXURY MF MIXED USE PROJECTS ACROSS TEXAS ARE UNDERWAY AND AVAILABLE RIGHT NOW. SO CALL FOR INFORMATION AND DON’T WAIT! PRICES ARE INCREASING. STEPHEN SCHATTNER 214.808.7156

Prelim plat completed are ready for final plat submission - final plat-ready for both MF and commercial portions. All utilities have been installed on the property. Level grade. TIA complete. 3 curb cuts from US 380 and 1 curb cut from Old North. TXDOT- and city-approved for all access. Median opening on US 380 for primary access into property. Buyer (property is under contract and contract expiring on/around September 5, 2024) has already completed construction plans and is in final stage of permitting. Plans call for 180 units 1 BR, 90 units 2 BR, 9 units 3 BR.

• Several LOIs received from local, regional and national credit tenants

• Seller financing is available

• Ag exemption and ag lease to maintain property in place
  

Seller (and existing Buyer) has completed:

A. MF rental market study

B. MF construction proforma, operating budgets and construction budgets

C. Prelim plat approved of the overall 18+ acres

D. MF final construction plans (through buyer’s MF architect)

E. All utilities on site

F. TIA

G. ESA-1

H. Ag exemption and low/no-cost land operation

I. All easement documents

J. Access management (approved by City and TXDOT)

New buyer will submit a backup contract for full price as listed. Buyer will contract with architect and engineer separately. Buyer will use existing seller-approved plans and city approvals already completed. Buyer will have 30 days review, 30 days close.

Sereno is an urban infill, 18-acre mixed-use development located in Denton, Texas. This project includes approximately 37,000 square feet of upscale shop space (14,000 square feet reserved for fine dining establishments) and 279 Class-A residential units. Sereno also includes several on-site amenities such as retail and grocery services, waterfront and outdoor dining, splash fountains, public art, dog-friendly parks, jogging trail, and much more. According to North Texas Commission’s 2012 census, Denton’s 121,000-population was the 12th largest in North Texas. Denton is located 41 minutes north of Fort Worth and 44 minutes northwest of Dallas. There are only three major arterials through the City of Denton: Interstate 35, Loop 288 and US 380. Within the Loop along US 380, there are only 10 signalized crossroads; few of these are major intersections. Sereno is located at the first signalized interchange just inside the 288 Loop at the northwest corner of US 380 at Old North. Sereno is located within one mile of Texas Women’s University and within three miles of The University of North Texas. Sereno is one of the last remaining undeveloped tracts of land on the US 380 corridor inside the Loop. Three miles east of Sereno is Lake Lewisville; a natural barrier that segments the trade area. This area’s concentration of government, corporate and university employment creates ample opportunity for retailers to capture both daytime and evening sales. According to Denton Economic Development, the City’s 10 largest public employers, 20 largest private employers, and 2 universities, represent a workforce of 26,000 people within the immediate area of Sereno. Few grocers serve Denton residents inside the 288 Loop and currently, no grocer serves the northeastern portion of the City. Sereno will fill this gap with a trade area that extends three miles north and east up to the Trinity Elm Fork and 1.5 miles south and west. Sereno will serve residents of Texas Women’s University and the 10,000 population within one mile of this site who live among the new and existing subdivisions. North Loop 288’s access limitations and the absence of regional intersections east of this property create high barriers to entry for this section of the City. The retail void in east Denton is attributable to flood plain; absent service roads; divided medians; overpass barriers; and parceled development, all of which encumber several nearby properties. Sereno is a master planned, deed restricted property that fills this retail gap for east Denton. This development includes a half-acre lake that will serve as an iconic focal point for the area. Only four waterfront restaurant opportunities are available that will offer diverse cuisines and unique ambiances. These restaurants not only offer one-of-a-kind waterfront views, but also provide a 270-degree panorama to cascading water features from enclosable decks that extend OVER the water. Each restaurant and shop space maintains unobstructed visibility to over 27,000 cars that pass by this site daily along US 380’s six-lane thoroughfare. Along this site’s half-mile frontage, there are two, full median openings providing unimpeded access into the development. This is one, if not the only, ag exempt property on US 380 inside Loop 288. Zoning (planned development) allows for most commercial uses as well as multifamily. This site is ideal for banks or fuel operations, consumer services and goods, anchored retail, and restaurants. Multi-tenant retail space and restaurant sites are currently preleasing with construction to commence soon. Optionally, the 18 acres can be acquired in its entirety. For more information, contact Stephen Schattner. 972.385.1907 ext 301