Dallas developer acquires tract for new retail project in McKinney's Craig Ranch

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Lance Murray

Dallas-Fort Worth is expected to get more construction in the next few years as the economy continues to recover and more people move to North Texas for jobs.

Candace Carlisle

Staff Writer- Dallas Business Journal

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An affiliate of Dallas-based Encore Enterprises Inc., Encore Retail LLC, has acquired a 20-acre tract of land for a new neighborhood retail development within Craig Ranch.

Terms of the deal were undisclosed.

The new project, known as Marketplace at Craig Ranch, will be anchored by a grocery store with infill retail space and pad sites along Custer and Stacy roads.

The Marketplace at Craig Ranch has excellent access in a strong trade area in a growing submarket, which makes it an exciting property to add to Encore's portfolio, said Nicholas Barber, president of the retail development firm.

Encore Enterprises has been shopping the new retail center around to regional and national retailers and the project has experienced strong interest.

As the economic recovery continues in Dallas-Fort Worth, real estate sources say the region could see more retail development on the horizon to support the growing needs of expanding neighborhoods.

In the past year, more than 120,000 jobs have been added to the North Texas economy.

Candace covers commercial and residential real estate and sports business.