A Houston-based developer has added to its real estate holdings in the Dallas-Fort Worth area with a major land acquisition in Anna.
Ascent Land Ventures, a subsidiary of Dosch Marshall Real Estate, acquired 17 acres at 9391 County Road 423 from the heirs of the Copeland, Cottrell and Adams Family, the Dallas Business Journal reported.
Michael Ytem and Tyler Hemenway of Younger Partners represented the sellers. Dosch Marshall, which is known mostly as a land brokerage, according to its website, was represented by its own Brandon Kendall and Tom Dosch. Financial terms were not disclosed.
Rural land in Northeast Texas averaged $8,200 per acre in the second quarter, a 6.7 percent increase from the previous year and outpacing the statewide average of 3.7 percent, according to Texas A&M’s Texas Real Estate Research Center.
Plans for the land have not been revealed, Anna’s growth offers Dosch Marshall significant opportunities for future development; the site is zoned for residential and agriculture.
The fast-growing suburb is transforming from a quiet rural town to a hub for major development in North Texas, positioned along U.S. Highway 75 between McKinney and Sherman.
Anna’s population surged 17 percent between July 2022 and July 2023, making it the fourth fastest-growing U.S. city with over 20,000 people, and its population is projected to more than double by 2030.
Recent residential projects in Anna that signal the city’s shift to North Texas boomtown include large-scale communities like Anacapri, a 1,240-home Lagoon-style project by Megatel Homes. Villages of Hurricane Creek, a 1,800-home project by Centurion American Development and the 700-lot Coyote Meadows by Ashton Woods are also planned.
“These developments underscore Anna’s evolution from a gas station stop on the way to Lake Texoma to a vibrant community poised for substantial economic and residential expansion,” Hemenway said.
— Andrew Terrell
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