District 121, a restaurant and retail destination near the intersection of State Highway 121 and Alma Road in McKinney, has sold after filling all of its available space. Craig International sold the 17.85-acre property on Sept. 22, the company announced Oct. 13. The buyer and purchase price were not disclosed.

Restaurants And Retail Surround The Commons

District 121 includes two buildings with a combined 36,723 square feet of space. The property’s layout centers on The Commons, an outdoor gathering area with a lawn and stage for live music and community events.

Its tenant lineup currently features Bob’s Steak & Chop House, Mi Cocina, Pie Tap, The Common Table, Credit Union of Texas, Shun by Yama Sushi, Broken Yolk and Skinn by Beverly Hills.

The development is part of a growing stretch of McKinney that includes Craig Ranch, The Farm, Sloan Corners and the Denizen. A shared parking garage serving the property is managed by the McKinney Economic Development Corporation.

“Our vision for District 121 was to build on what we started at Craig Ranch and give people a unique place to come together,” said Craig International Chairman and CEO David Craig, who also developed Craig Ranch. “The restaurants, patios, live music and The Commons were all part of that plan. I’m proud of what we built and the businesses we brought in. Reaching 100% leased as we completed the sale is a meaningful milestone and reflects the strength of our tenants and the continued growth of this area.”

Sale Follows Another District 121 Deal

Tim Axilrod of SHOP Companies exclusively marketed District 121 and represented Craig International in the transaction. The deal moved from contract to closing in 62 days, according to Axilrod.

“We went from contract to closing in 62 days,” said Tim Axilrod of SHOP Companies. “The buyer saw the value in the location, the established restaurant brands and the residential and office growth surrounding the property. Both sides stayed engaged throughout the process, which helped us resolve questions quickly and get the deal done.”

The sale follows another transaction nearby involving the adjacent District 121 office building. Kaizen Development Partners developed the Class AA office property, which was recently sold to Eckard Enterprises for its new corporate headquarters.

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