H-E-B, the highly sought-after Texas grocer, is building a supermarket in the popular Las Colinas area of Irving on a site at Interstate 635 and Olympus Boulevard purchased from LaTerra Development, a leading real estate investment and development company. LaTerra will build 161,000 square feet of self-storage adjacent to the H-E-B store on seven acres that it retains of the 19.5-acre property, a long-shuttered Fry’s Electronics site.
LaTerra plans to repurpose the former Fry’s Store into a 161,250-square-foot Self Storage facility with construction slated to begin later this year. The company also plans to build an additional 34,000 square feet of indoor/outdoor RV and Boat Storage as a separate facility. This Irving-located Self Storage will be the first for LaTerra in the Dallas area, expanding the reach of its growing self-storage platform.
“We are thrilled to bring a terrific H-E-B Store to Irving. It will draw significant traffic and visibility to the self-storage facility we are building on this site,” notes Chris Tourtellotte, Managing Director, LaTerra. “Our Self Storage project will be one of the first to offer Boat and RV Storage, one of the most in-demand subsets of storage in the U.S.”
The LaTerra Self Storage facility will be adjacent to the neighboring Cypress Waters Master Plan that will bring new residents to the area as well as a large Home Depot Store. LaTerra entered into a joint venture with an affiliate of Fry’s Electronics to redevelop the Irving site in late 2021.
H-E-B has announced that construction on its Irving store will begin later this year with opening set for late 2026. The San Antonio-based grocer will employ 700 people at the store and will showcase its unique brand of customer service, locally sourced produce and products and sustainability.
“As a family company, we are particularly delighted to welcome H-E-B, one of the great family-owned businesses in the U.S.,” said Charles Tourtellotte, Chief Executive Officer, LaTerra.
LaTerra is a leading self-storage and multifamily investment and development company with a focus on U.S. Sun Belt markets. It currently has approximately 1,000,000 square feet of self-storage in development. Its multifamily housing business serves the huge demand for best-in-class value rentals, with more than 3,000 residential units in its portfolio.
Contact:
Barbara Casey
310.990-0750
bcasey@caseysayre.com
