The gist
The property is adjacent to another parcel previously purchased by Ascent and is located about a half mile away from McKinney National Airport. The site is “ideally positioned” for industrial development with direct access to US 75, US 380 and SH 121, the news release states.
Investment Associate Ryder Byrne said the company does not have immediate plans for development on the property.
“We are positioning the site for future industrial development, which we believe is well-supported by the ongoing expansion of McKinney National Airport and the city’s long-term vision for the area,” he said in an email.
Zooming out
Nearby, construction is underway on a $79 million project to build a commercial service terminal for the airport. The Texas Department of Transportation also plans to extend Spur 399 around the airport and connect the road to US 380. Officials broke ground in June on the first project as part of that effort.
Quote of note
“This acquisition underscores our belief that the expansion of the McKinney National Airport is increasing industrial land values in the immediate area and strengthens Ascent's ability to provide high-quality investments to our investors,” Ascent Cofounder Tom Dosch said in a statement.
- 14951 Dallas Parkway, Ste. 400, Dallas (Ascent Investment Partners headquarters)
- www.ascentinv.com
