March 16, 2017
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Private investor Gene McCutchin bought 200 acres in a sale-leaseback deal north of Tioga, TX, in Grayson County. Seller Grass Roots Investment of Granbury, TX operates a grass farm on the land, which is on McKnight Road, fronting US 377. Ben McCutchin of Younger Partners (the buyer’s brother), negotiated the transaction for an undisclosed sales price.
The new owner will lease back the 200 acres to the grass company. The grass company also sold 100 acres to Tioga Independent School District, which is building a new high school. Tioga is approximately 60 miles north of Dallas.
“This area along Highway 377 is going to be the next big development corridor, with the new $25 million high school going in,” Ben McCutchin told Connect Media. “The school will definitely attract new housing, and once you get the rooftops, then the retail strip centers, fast food restaurants and gas stations are certain to follow.”
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