D-FW land man buys 815 acres in North Texas. It could hold thousands of homes and more
D-FW land man buys 815 acres in North Texas. It could hold thousands of homes and more
It’s Rex Glendenning’s latest deal.
Real estate broker Rex Glendenning stands in front of a company billboard for REX Real Estate® at the corner of Glendenning Parkway and Preston Road in Glendenning’s hometown of Celina.
Real estate developer Rex Glendenning and his wife Sherese purchased Pace Ranch in Gainesville last Friday. He’s got big plans for the land that could include thousands of single-family homes and apartments.
The Glendenning's bought the 815-acre property along Interstate 35 through one of their firms, Old Chisholm Trail Partners. Terms of the deal were not disclosed.
The pair opted to purchase the Cooke County land after it was shown to multiple parties. The couple purchased the site from the Pace family, who owned the property for over 75 years.
The site is roughly 70 miles from downtown Dallas and 65 miles from downtown Fort Worth.
Rex Glendenning said he’s planning a mixed-use development on the land. The northern 400 acres of the site could include a mix of single-family homes and apartments. A large logistics or industrial park could occupy portions of the southern segment.
Plans are in the earliest stages, but Rex Glendenning said the site could hold between 800 and 1,000 single-family homes as well as 2,000 to 3,000 apartments. Negotiations are ongoing with grocers as well.
“The I-35 corridor is experiencing significant growth in the logistics sector from the Fort Worth Alliance area through Denton and Sanger. We feel the Gainesville area is next in line for the right development and project,” Rex Glendenning said.
“The area is awakening. ...I’d rather be early to the party than late.”
Caleb Lavey of Frisco-based REX Real Estate handled negotiations.
The purchase comes after H-E-B closed on 600 acres in Cooke County last week. The Valley View site is situated along Interstate 35 and East Lone Oak Road, is about 60 miles north of Fort Worth and a roughly 17-mile drive from Denton.
The couple’s newest addition is also just north of a proposed BNSF Railway 1,000-acre logistics park, between Sanger and Valley View.
The pair also assisted Dallas Cowboys owner Jerry Jones in purchasing land in Sanger for a logistics development. Jones’ Blue Star Land and Crossland Development assembled approximately 278 acres along I-35 in 2021.
Rex Glendenning is the founder of REX Real Estate® , a brokerage that specializes in land located along the region’s rapidly growing “Golden Corridor” — property along the Dallas North Tollway and Preston Road.
- By Nick Wooten
Published in the Dallas Morning News Here
Share