Bright Realty is developing an ALDI-anchored retail site in the growing Castle Hills community of Lewisville. The 13-acre parcel, owned by Bright Realty, includes a total of seven commercial pad sites to be developed by the company. ALDI is the first retailer to close within the development. The ALDI site, located on the southeast corner of Josey Lane and Windhaven Parkway, is 1.809 acres. Two other tenants are currently under contract; those additional two lots total 3.863 acres.
In February of this year, the Dallas Morning News reported that ALDI has plans for more than 450 grocery stores in Texas. As of early 2015, ALDI opened 89 stores across the state since 2010, with 52 in North Texas and 19 in Houston. ALDI plans to begin work on the Castle Hills site in the first quarter of 2016.
The new ALDI will be near Nebraska Furniture Marts Grandscape development and other Bright Realty developments in Castle Hills including Crown Centre, a 150-acre office park, and Discovery at The Realm, a luxury 4,000 unit multi-family project, both currently under construction. Bright Realtys 2,600-acre master-planned Castle Hills community currently has almost 4,000 single-family homes.
The location near State Highway 121 is ideal for an ALDI-anchored site due to the extraordinary development both residential and commercial in this area, said Chris Bright, CEO. The projected population growth within a mile of this development is more than 20 percent in the next five years. We are proud to be a part of that activity and success for the area.
Tim McNutt and Britton Lankford are representing Bright Realty in the sales of all pad sites at the ALDI-anchored site.
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