H-E-B Adds 95 Acres to its North Texas Real Estate Portfolio

H-E-B’s northward push continues, this time with a 95-acre land purchase in Pilot Point.

The iconic San Antonio-based grocer purchased the parcel, located at the corner of FM 1385 and Mustang roads, on Aug. 27, the Dallas Morning News reported, according to Denton County deed records.

Pilot Point is a city of about 7,000 people in Denton County. It’s about 53 miles northwest of downtown Dallas. A spokesperson for the company told the outlet that the purchase was part of a long-term real estate investment plan, and that H-E-B has no immediate plans for the site.

The purchase follows a pattern of recent acquisitions and openings by the company in the northern growth corridors of the Metroplex. The activity makes up a multibillion dollar strategy to chip away at market dominance by Kroger, Tom Thumb and Walmart in the region.

For example, H-E-B bought 20 acres in Sherman — which is growing rapidly, because it’s become a hub for semiconductor chip manufacturing — at the northwest corner of FM 1417 and U.S. Route 75 in June. The site is located within Sherman Crossroads, a 130-acre master-planned development by Harkinson Development and Heritage Development Partners.

The grocer also opened stores in Melissa, Prosper and Frisco and bought land in Fort Worth and Flower Mound. Plus, H-E-B’s high-end grocery brand Central Market is pursuing a plan for a flagship store in Uptown Dallas.

The grocer’s North Texas moves follow a string of land buys orchestrated by large residential developers, pointing to population growth in the area. Just one developer, Centurion American Development Group led by CEO Mehrdad Moayedi, plans to build out single-family residences on nearly 500 acres near Lake Texoma, and has in the past two years acquired at least 7,000 acres, with active projects that span Celina, Gunter, Howe, Pilot Point and Sherman.

— Eric Weilbacher