Kroger Acquires Land in Fast-Growing Suburb for New Store

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Price: $67.87 --0%

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LITTLE ELM, Texas--(BUSINESS WIRE)-- Davidson Bogel Real Estate (“DB2RE”) is proud to announce its successful representation of Kroger (NYSE: KR) in the acquisition of a 14-acre property in Little Elm, Texas from local investment firm Dollar-Flowers Realty Partners.

The 14-acre site, located at US 380 and FM 2931, in one of the fastest-growing communities in North Texas, allows for Kroger to enhance its retail presence and serve the expanding population of Little Elm and surrounding areas with quality grocery offerings.

Edward Bogel, Ryan Turner, and David Davidson Jr. of Davidson Bogel represented Kroger in the transaction. Dollar-Flowers was represented internally by Stewart Flowers.

Kroger’s acquisition follows a recent announcement last year that Weber & Co. had purchased 22 acres of land at the same intersection for a 225,000 square foot, Target (NYSE: TGT)-anchored retail center, called Bates Towne Crossing (LINK).

Earlier this year, GBT announced their plans to develop a Sprouts-anchored shopping center on the northeast corner of the intersection.

HEB owns the land directly west of the future Target but has not released timing for developing the land.

The retail growth in Little Elm is a result of several years of strong population growth in the region. DR Horton’s (NYSE: DHI) Silverado was the top-selling community in Texas in 2022, and 6th fastest in the country (LINK). In addition, public-builder Lennar (NYSE: LEN) announced their new project, Foree Ranch, in August of last year that will offer 1,450 homes at full buildout (LINK).

About DB2RE

Davidson Bogel Real Estate (DB2RE) is a boutique land investment advisory group and brokerage firm headquartered in the Dallas-Fort Worth Metroplex. Founded by David Davidson, Jr., and Edward Bogel in 2015, the base principal of the company is exceptional client service, with investment and development of land throughout Texas and Oklahoma as the focus. DB2RE concentrates on land acquisitions, dispositions, and investment sales for families, trusts, and developers of retail, multi-family, industrial/mixed-use, and single-family communities.