Dallas investment firm scouts land buys near tollway route
A Dallas investment company that’s snapped up hundreds of acres in Grayson and Cooke counties is looking to make more buys north of Dallas.
Texas Republic Management was formed by Ben R. Weber, who has a track record of oil and gas investments.
The new land company has purchased almost 150 acres west of the town of Howe near Sherman in Grayson County. The site is south of the 1,500-acre Cottonwood community being developed by Centurion American Development Group.
Texas Republic Management has acquired another 567 acres north of Pilot Point in Cooke County. Pilot Point is west of a planned expansion of the Dallas North Tollway.
“As a lifelong resident of Dallas, it was hard not to see the explosive growth and development along the path of the Dallas North Tollway,” Weber said in a statement. “I am not a person who can sit on the sidelines and watch, I had to become involved.
“There are tech companies now that have made major commitments and are building multibillion-dollar facilities in Sherman, such as Texas Instruments and Finisar,” Weber said. “The growth rates are phenomenal. Texas Republic Management focuses where industrial and residential growth is active.”
The company is buying the properties in partnerships, and plans to resell the land to homebuilders and developers.
Most of the buys are near the corridor where the Dallas North Tollway will be extended. Work to extend the road north from U.S. Highway 380 to the Grayson County line is expected to start early this year.
“A number of the areas that we buy in are being sold by owners that have in some cases owned their property for up to 100 years,” Weber said.
Longtime Collin County real estate broker Rex Glendenning has been working with Texas Republic Management on the purchases.
“I have known and done business with Mr. Weber since around 2016,” Glendenning said. “The extension of the Dallas North Tollway through Frisco to U.S. 380 spurred tremendous growth a decade ago. We expect the same thing to happen again with this latest extension of the tollway.”
https://www.dallasnews.com/business/real-estate/2024/02/09/dallas-investment-firm-scouts-land-buys-near-tollway-route/