Coming soon to the Collin County city of Lucas: a highly anticipated commercial planned development featuring a 130,000-square-foot grocery-anchored shopping center, a 25,000-square-foot restaurant village with 15 adjacent pad sites and a community park.
Younger Partners Senior VP Michael Ytem and Executive VP Tom Grunnah brokered the sale of the 42-acre parcel of undeveloped land at the northwest corner of Parker Road and Southview Drive (FM 1378) in Lucas, 30 miles northeast of Downtown Dallas in Collin County.
Ytem and Grunnah represented both the buyer, Lucas Crossing LTD – led by Malouf Interests – and the seller, JCBR Holdings, in the transaction. The sale price was not disclosed. Construction is set to begin in Q4 with an estimated completion in 2026.
“This prime retail and commercial project has been years in the making,” said Ytem. “The extensive planning and city approvals reflect the commitment to bringing a best-in-class development that meets the needs of the growing community. This project enhances Lucas’ retail and dining landscape while also creating a vibrant gathering place for residents and visitors that supports local businesses and fosters long-term economic growth.”
Focusing on Development
Lucas Mayor Dusty Kuykendall says this will be our first true grocery store serving the community. “The development team worked with city leaders, as well as the residents, to plan this project based on our comprehensive plan from the start. “From the roof design to the paint colors, we wanted to be involved in every part of the plan and they were willing to work with us on that. This project will drastically increase our sales tax base, which is great to bolster funds for our infrastructure and roads.”
Kuykendall says this will be a unique addition to the largely residential town because it is all commercial with some green spaces included. “Our feedback on materials, the aesthetic and the layout were all incorporated. For some time, our residents have wanted a full-service restaurant, and this planned development will incorporate a few of these.”
Malouf Interests is leading its retail transformation in the highly desirable suburban area in northeastern Dallas. The development is strategically positioned to serve not only Lucas but also neighboring communities including Parker, North Wylie, Northeast Murphy and St. Paul. With its strong residential growth and appeal, Lucas continues to attract families and professionals, drawn to its high-quality lifestyle and expanding amenities.
Lucas, with almost 10,000 residents, has no multifamily or high-density neighborhoods. Home lots tend to be around two acres with an average value of $1.2 million, Kuykendall says.
“The planned development will create a dynamic new retail destination for the area and tremendous amenities for the region,” Grunnah said. “This transaction will have a lasting impact on the community and create value for the city, its residents and the new property owners.”
Dallas-based Younger Partners is a full-service commercial real estate firm providing investment, leasing, and management services to investors and tenants in the Dallas/Fort Worth region. It also specialize in the acquisition and disposition of land, multifamily, office, industrial, and retail properties. Younger Partners Investments (YPI) is a Younger Partner’s platform designed to acquire retail properties.
Launched in July 2020, YPI targets retail properties from lifestyle to neighborhood centers throughout the DFW area. Younger Partners and YPI are also affiliated with the newly formed Apricus Realty Capital.
