LiNC Commercial Realty brokered a deal for Ferguson Investments this week on a 12.644-acre property in Prosper. The prime piece of real estate is at the northeast corner of Coit Road and First Street just around the block from the new Prosper High School currently under construction.
“This site is primed for significant investment,” LiNC CEO Najdi Rafaty said. “With so much development already underway, and even more growth expected, the new owners are poised for great things in the coming years.”
The site is considered one of Prosper’s “hot corners” due to its proximity to multiple high-end neighborhoods. The presence of a nearby childcare facility prohibits construction of an establishment that serves liquor. However, according to a spokesperson from the Prosper Economic Development Corporation, area residents have been clamoring for a restaurant, coffee shop and ice cream parlor with outdoor seating. Since the property is near the school, anything built there is expected to be very well-supported and patronized.
“I don’t think you could ask for a better location,” Rafaty said. “It was a pleasure partnering with Ferguson Investments. We look forward to working with them, and the city of Prosper, on future deals.”