CenterPoint Commercial Properties acquired a 12-acre retail development site at the northeast quadrant of US-77 and Grove Creek Road in Waxahachie, Texas, marking the next step in the development of Village at Soma Creek, a major new retail destination planned for one of Ellis County’s fastest-growing commercial corridors.
The acquired property forms a key portion of an approximately 22-acre retail component within a broader 76.7-acre master-planned development, which also includes approximately 54.7 acres planned for residential use. The retail site is positioned along US-77 with approximately 34,000 vehicles per day and convenient connectivity to I-35E and US-287.
CenterPoint plans to develop the property with a mix of national and regional retailers, restaurants and service-oriented uses, incorporating a combination of pad sites, ground leases and build-to-suit opportunities. The company is already negotiating terms with several national tenants for locations within the development.
The project adds to the rapidly expanding retail landscape along the US-77 corridor, where significant residential growth and continued commercial investment are reshaping Waxahachie into an increasingly important retail hub within the southern Dallas-Fort Worth region. Nearby development includes a planned Sam’s Club, Texas’ first BJ’s Wholesale Club, a recently opened Tom Thumb and an expanding collection of national retailers, restaurants and other commercial users.
The acquisition financing was arranged by Ari Raskas and Matthew Sheard of CenterPoint Commercial Capital, CenterPoint’s recently launched nationwide debt and equity placement platform. Raskas and Sheard were engaged on the transaction and successfully placed and closed the acquisition financing within just three weeks of engagement, helping the sponsorship team meet its acquisition timeline and move forward with the development.
The financing required a lender capable of understanding the broader vision for the property while providing the flexibility necessary to support the acquisition and future development plans.
For CenterPoint, Village at Soma Creek represents an opportunity to participate directly in the continued evolution of Waxahachie and Ellis County. The broader trade area has experienced substantial population and commercial growth as the Dallas-Fort Worth metroplex continues to expand southward.
