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IMPERIUM: Completes Another Record Land Sale | CVS Coming Soon to
North Wylie
DALLAS, March 4, 2016 – Imperium sold the southwest corner of FM 1378 and FM 2514 in Wylie, Texas, to a CVS-
preferred developer in March, 2016 (www.TheShopsOfNorthernWylie.com).
Imperium acquired the property in 2006 through multiple, off-market, simultaneous closings with four property
owners.
This sale is another record transaction completed by Imperium; it represents the highest known unit sales price paid
for land in the trade area.
It is Imperium’s second sale of its north Texas land holdings to CVS’s developer within the last 12 months
(see: Melissa Crossing).
Over the last decade of owning the property, Stephen Schattner, president of Imperium, fought and won several battles
that included: prevention of Collin County’s proposition to realign FM 2514 a mile north; zoning approval to include
multiple uses by right beyond base retail zoning allowances; and self-representation in right-of-way condemnation
hearings that doubled the damage proceeds received from the State.
In 2006, Imperium recognized that the absence of infrastructure and retail zoning in surrounding communities that
converge at this site’s intersection would prevent proximate competition.
No sewer servicing areas of Lucas, Texas and St. Paul, Texas; no retail zoning permitted in Parker, Texas; and no
major arterial intersections for three miles, make Wylie, and more specifically this site, the only viable solution for
commerce.
“Limited to no retail service exists within two miles of this property that serves 15,000 existing residents and nearly
30,000 cars passing by daily; CVS will be the first retailer to capture this market,” said Stephen Schattner, Imperium
president.
Imperium is currently marketing the reminder of the property for ground lease.
In under ten years, Imperium:
Remained debt-free: acquired the asset in an all-cash transaction
Attained 385% ROI
Attained 14.1% IRR
Was 11% higher than the proforma sale multiple
Was $166,000 under budget for construction
Held property tax increases below the cost of inflation (1.8% per annum)
Successfully negotiated utility easements from half a dozen adjacent property owners at no cost
Imported 9,000 cubic yards of earthen fill and completed finish grading at no cost
Entitled the property for development including zoning, median openings, driveway construction, drainage
improvements and water/sewer extension at no cost
Defended inverse condemnation against the County at no cost
Maintained asset and property management at no cost
Comparatively, investment of similar risk (reinvested 10-year treasury return over same period) attained 3.42% IRR
or 39.6% ROI.
About Imperium: Imperium is a diversified holding company with focus in real estate investment; real estate and
A/E/C-related services; communications technology; Virtual Presence Device and UAV research, development and
manufacturing; media; healthcare; and agriculture. Over the past 15 years, Imperium has remained debt-free, and for
every asset acquired, has returned profitability or increased investment value.
For more information, contact: Stephen Schattner | [email protected]| 972.385.1907 ext. 301 |
2101 Cedar Springs Road, Suite 1050, Dallas, TX 75201
website: www.imperium-holdings.com