GUNTER, TX - A huge Grayson County property in the pathway of North Texas growth has changed hands.
The Double Platinum Ranch — also known as Kimberlin Heights — includes 1,215 acres along the future right of way of the Dallas North Tollway running north from Collin County.
The property has two miles of frontage along the tollway path and is in the Gunter Independent School District. Construction of the tollway extension north of U.S. Highway 380 in Prosper is already underway.
Midas Global Investments purchased the Double Platinum Ranch, which is planned for future home community development. Arizona-based Walton Global was the seller.
“You’ll soon be able to drive the Dallas North Tollway from downtown Dallas up into Grayson County and Gunter,” said real estate broker Rex Glendenning, who handled the sale. “The Double Platinum Ranch is well-positioned for the future growth we expect to see with the development of the tollway.”
With a population of more than 2,000, Gunter has almost doubled in size during the last two decades and is expected to see more significant growth as development just to the south in Celina pushes north.
Several land investors and developers have already taken big property positions in the Gunter area.
“We’re seeing an increased level of interest from investors and builders in this area, which is located less than 15 miles from the newly announced $30 billion Texas Instruments semiconductor chip-making campus” in Sherman, said Caleb Lavey.
Glendenning and Lavey of Rex Real Estate handled negotiations for Double Platinum Ranch for the purchaser along with Taylor Boyd of Adler Properties.
Rex Real Estate has handled a series of big northern suburban Dallas property sales in Collin, Denton and Grayson counties during the last year.
Steve Brown | Real Estate Editor | Dallas Morning News | FULL STORY HERE
NORTH TEXAS REAL ESTATE NEWS
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