Investment Overview

Leroy is a city in McLennan County, Texas, situated within the Waco Metropolitan Statistical Area approximately 15 miles southeast of Waco along Farm Road 2311 (Heritage Parkway). The city is part of the broader Central Texas corridor anchored by Interstate 35, which connects the Waco MSA to Dallas–Fort Worth approximately 90 miles to the north and Austin approximately 100 miles to the south, positioning the trade area within easy reach of two of the fastest-growing major metropolitan markets in the country. The Waco MSA serves as the commercial, educational, and healthcare hub of Central Texas, drawing consumers and workers from across McLennan, Falls, and surrounding counties. Baylor University anchors the market with over 20,600 enrolled students and more than 2,000 full-time employees, generating sustained year-round demand for everyday retail and household necessities throughout the region. The area’s workforce is further supported by McLennan Community College and Texas State Technical College, which together enroll nearly 15,000 additional students. Major regional employers include Graphic Packaging International, AbbVie, Mars Wrigley Confectionery, Walmart Manufacturing, and Providence Healthcare Network, collectively representing a diversified economic base across manufacturing, healthcare, and logistics sectors. Leroy’s immediate trade area consists of an established rural residential base along Heritage Parkway and the surrounding Grassland Estates and South Janes Road corridor, with spending patterns closely aligned with the value-retail and everyday grocery sector Dollar General is specifically designed to serve. The surrounding McLennan County carries a 2025 population of approximately 272,000 residents with continued growth projected as Waco-area investment activity expands outward from the urban core. The property is positioned to capture daily commuter traffic along FM 2311, which connects the subject corridor directly into Waco’s primary retail and employment districts.