NewQuest Acquires Property in Frisco for Retail Development

FRISCO, TEXAS — NewQuest Properties has acquired land to develop a retail center in Frisco. Construction will begin on the development, which will be known as Frisco Ranch, in October. The 110,000-square-foot center will be situated on nine acres just northeast of the intersection of Preston Road and Warren Parkway. The site was acquired through direct negotiations between the seller, Lebanon Joint Venture, and Houston-based NewQuest Properties, which was represented by Heather Nguyen and John Nguyen. Three anchor tenants have signed on for the development. The tenants are: 99 Ranch Market, which has preleased 44,875 square feet; Daiso Japan, which has leased 10,000 square feet; and 85°C Bakery Cafe, which has leased 3,000 square feet. The same trio of retailers also anchors NewQuest’s Carrollton Town Center, a similar retail center located in Carrollton. Callaway Architecture of Dallas is the architect for Frisco Ranch, which is expected to open in summer 2017.