forney ridgecrest - loopnet...projections, assumptions or estimates are for illustrative purposes...

METHODS CHANGE. PRINCIPLES ENDURE. SERVICE & INTEGRITY SINCE 1914.

PREMI ER RES I DENTI A L LA ND OPPORTUNI TY • 75 .41 A CRES • FORNEY, TX

FORNEY RIDGECREST

LAND ADVISORY GROUP

CHRIS BURROWVice President

p 972.419.4094

m 214.244.5047e [email protected]

DILLON COOKAssociate

p 972.386.1462

m 214.738.3857

e [email protected]

OFFERING SUMMARY

Disclaimer

THE FOLLOWING INFORMATION IS FROM SOURCES BELIEVED TO BE RELIABLE, BUT HENRY S. MILLER BROKERAGE,

LLC HAS NOT VERIFIED THE ACCURACY OF THE INFORMATION. HENRY S. MILLER BROKERAGE, LLC MAKES NO

GUARANTEE, WARRANTY OR REPRESENTATION AS TO THE INFORMATION, AND ASSUMES NO RESPONSIBILITY FOR

ANY ERROR, OMISSION OR INACCURACY. THE INFORMATION IS SUBJECT TO THE POSSIBILITY OF ERRORS,

OMISSIONS, CHANGES OF CONDITION, INCLUDING PRICE OR RENTAL, OR WITHDRAWAL WITHOUT NOTICE. ANY

PROJECTIONS, ASSUMPTIONS OR ESTIMATES ARE FOR ILLUSTRATIVE PURPOSES ONLY. RECIPIENTS SHOULD

CONDUCT THEIR OWN INVESTIGATION.

FORNEY RIDGECREST is being offered For Sale and is Exclusively Listed by Chris Burrow and Dil lon Cook Land

Advisory Group of Henry S. Mil ler Brokerage, LLC. Buyer’s broker must be identified on first contact, and must

accompany buying prospect on first showing to be allowed ful l fee participation. I f this condition is not met,

fee participation wil l be at sole discretion of Listing Broker. Prospects may be required to required to provide

proof of funds prior to schedul ing a showing.

2

Overview

Forney Ridgecrest is positioned in a prime development location just 30

minutes east of downtown Dallas. Forney, TX has a population of 17,553

(2016) and has seen a 2.67% increase in growth between the years 2010

and 2015. Projections for the years 2015 to 2020 show a 5.08% increase in

population. The city is distinguished by its nationally recognized schools,

affordable housing prices, and friendly, small town atmosphere. Forney

Ridgecrest is positioned within minutes of many of the schools in Forney

including By The Barnyard Gate Preschool, Criswell Elementary School,

Crosby Elementary School, and Forney High School.

Property Summary

Executive SummaryPROPERTY OVERVIEW

LOCATION

COUNTY

SUBMARKET

LAND AREA

ZONING

LAND USE

100-YR FLOOD

FRONTAGE

SCHOOL DISTRICT

UTILITIES

Northeast Quadrant of FM 740 & Ranch Road

Kaufman

Forney/Terrell/Mesquite

± 75.41 Acres (36.41 net useable)

PD (Agricultural Exemption)

High Density Residential, Mixed-Use

Approximately 39 Acres

±3,062 Feet on FM 740

Forney ISD

A 12” water line is located on FM 740 near the

southwestern corner of the property and an 8” line is

located across the street, running along FM 740 parallel

to the property. In addition, there is a 400,000 gallon

elevated water tank at the southwest corner of the

site. The sanitary sewer lines are positioned along the

entire southwest side of the property (8”).

Please contact Broker for details

5

F O R N E Y R I D G E C R E S TP R E M I E R R E S I D E N T I A L

L A N D D E V E L O P M E N T

O P P O R T U N I T Y

Executive SummaryCONCEPTUAL SITE PLANS

Proposed Site Plan 1 Proposed Site Plan 2

6

Land Use Acres Units Density

Single Family Residential 15.6 80 5.3

Apartments 12.1 144 11.5

Condominiums 16.8 112 6.5

Park/Flood Plain 25.0 - -

Easements 5.8 - -

Totals 75.3 336 4.4 Du/AC

Land Use Acres Units Density

Single Family Residential 15.6 80 5.3

Parcel A 12.1 169 15

Parcel B 16.8 235 15

Park/Flood Plain 25.0 - -

Easements 5.8 - -

Totals 75.3 484 6.4 Du/AC




Executive Summary

8

Forney Ridgecrest

AERIAL OVERVIEW




4,000 acre master-

planned community

(9,300 Lots)

2,000 acre master-

planned community

(1,850 Lots)

5,641 acre proposed

master-planned

community

Market OverviewMARKET AREA DYNAMICS

DFW Current Housing Market

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INVESTMENT MERITS

12

Market Area Continued

With its proximity to Dallas-Fort Worth, the properties are ideally located for a residential development. Other factors considered highly supportive of single family residential development of the properties include the following:

• Entertainment attractions located within close driving proximity to the propertyinclude private golf, tennis, and swim clubs, equestrian facilities, and Lake RayHubbard, a large reservoir popular for boating, fishing and lakeside dining.

• The area is an already established and recognized market for single familyhomes and large estate sites which are available at prices significantly lowerthan those available in the Dallas market area.

• Presence of an excellent transportation system including U.S. Interstates 30 and20 and State Highway 80 which allow ease of access for commuting todowntown Dallas and surrounding employment centers.

• Proximity to major airports for frequent business and pleasure travelers.

• Nearby restaurants, neighborhood grocery stores and a broad range of retailerslocated a short distance from the properties along State Highway 80 and U.S.Interstate 20 corridors.

DFW Housing Market

Due to an acute housing shortage, North Texas home prices are rising at more thantwice the long-term rate due to a tight housing supply and dramatic populationgains in the area. Dallas-Fort Worth area home prices have increased by more than30 percent in the last five years and are now at record levels. Dallas-area homeprices in February 2016 increased 9.6 percent from a year ago, second only toDenver’s, according to data from CoreLogic. That compares to price increases of 6.8percent nationwide. “Home prices continue to climb at more than twice the rate ofinflation,” according to David Blitzer in a recent report from Standard and Poors.“The low inventory of homes for sale – currently about a five-month supply – meansthat would-be sellers seeking to trade up are having a hard time finding a new,larger home.” Low inventories and short supply are boosting prices. Zillow chiefeconomist Svenja Gudell commented on the report. “Looking at the bigger picture,there’s not much else to worry about in housing at the moment. As long as wagesand job opportunities keep rising, the housing market should remain fairly stableand healthy.”




Executive Summary

Market OverviewPROPERTY TOPOGRAPHY

14

Property:City Limits:




Market OverviewDRIVE TIME MAP

17

5 Miles

10 Miles

15 Miles

20 Miles

25 Miles

30 Miles

Drive Time Map

Miles Destination

6 Heath/Sunnyvale

9 Mesquite

12 Terrell/Rockwall

18 Kaufman/Garland

23 Downtown Dallas

28 Dallas Love Field Airport

44 DFW Airport/Arlington

45 Miles




Land Advisory GroupABOUT US

L A N DA D V I S O R Y

G R O U P

"Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth."

- Theodore Roosevelt

What We Do

Henry S. Miller Company’s Land Advisory Group serves individual,

institutional, public, private and non-profit clients with the acquisition and

disposition of investment, recreational, and pre-development land. With

in-depth market knowledge, our team provides the expertise to evaluate

specific site needs and analyze highest and best use for strategically

located land assets. We also assist in all regulatory and entitlement issues.

As the leader in land brokerage in Texas, we have assisted thousands of

clients in the acquisition and marketing of land to regional, national, and

international investors and developers. In partnership with the Miller

Company’s Appraisal and Consulting Division, the Land Advisory Group

also conducts detailed market studies, land valuations and economic

development opportunity analysis for municipalities and governmental

entities.

The Land Advisory Group also works closely with financial institutions in

evaluating Real Estate Owned (REO) properties including conducting

valuations, market studies and dispositions.

Who We Are

Land Advisory Group was founded by senior real estate professionals at

Henry S. Miller Company and is comprised of individuals with nearly 80

years of industry experience. Team members have held executive

positions with nationally recognized real estate firms, with U.S.

government agencies and non-profit organizations.

Our Approach

We believe solving complex problems is achievable through careful

research and due diligence and by assigning a senior professional to

personally manage each assignment. We approach each challenge as

unique, applying the most effective combination of resources to each

project. We also believe in working collaboratively as a team and

establishing clear lines of communication with our clients.

Where We Work

The real estate professionals in the Land Advisory Group have advised

and consulted on over 500 engagements in 7 states and with 30

combined U.S. markets representing over $1.5 billion in value.

Our advisory team focuses on the following key property asset types in

the Dallas/Fort Worth, North Texas and Southwest U.S. markets:

Raw land for planned residential and mixed-use development projects;

Urban and suburban land for corporate campus sites;

Hospitality, multifamily, retail, and office development sites;

Recreational land and ranches;

Investment grade land assets positioned for long-term appreciation;

Opportunistic infill land sites.

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Contact Information L A N DA D V I S O R Y

G R O U P

Contact Information

Our Industry experts are here to provide you with the answers you need. Please feel free to contact Henry

S. Miller Brokerage’s Land Advisory Group so that we may further assist you with your real estate needs.

CHRIS BURROW

Vice President

p 972.419.4094


ALEC LUCAS

Associate

p 972.386.1450


DILLON COOK

Associate

p 972.386.1462


www.henrysmiller.com

14001 Dallas Parkway, 11TH Floor, Dallas, TX 75240

T: 972.419.4000

ERIC LEYENDECKER

Associate

p 972.386.1463


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forney ridgecrest - loopnet...projections, assumptions or estimates are for illustrative purposes...

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