A popular North Texas shopping center recently sold for $78 million.
PLANO, Texas — A popular, upscale shopping center in North Texas has sold to a new buyer for $78 million — or about $321 per square foot.
CTO Realty Growth recently announced the sale of The Shops at Legacy North, a 243,000-square-foot, open air center in the 7300 block of Dallas Parkway at the corner of the Dallas North Tollway and Legacy Drive.
The buyer of the mixed-use center wasn’t named in the announcement of the sale, but our content partners at the Dallas Business Journal report that Collin County land records showed ACH Legacy North Texas LLC, which is affiliated with real estate firm Albanese Cormier Holdings LLC, based in Beaumont, bought it.
“We are very pleased with the strong pricing achieved on this transaction, which reflects the significant leasing completed at the Shops at Legacy North over the past two years,” said John P. Albright, President and Chief Executive Officer of CTO Realty Growth. “This disposition at an approximate low-5% exit cash cap rate allows us to recycle capital into higher-yielding opportunities including our recent acquisition of Pompano Citi Centre on December 17, 2025, driving immediate earnings accretion.”
The Shops at Legacy North boasts a slate of tenants including Benihana, drybar, The Capital Grille, Seasons 52, Mic Drop Comedy, Mexican Sugar and more.
According to a property listing on CTO Realty Growth’s website, the shopping center was built in 2007. The Dallas Business Journal reports CTO Realty Growth acquired the Shops at Legacy North in 2021.
“The property includes nearly 1,000 parking spaces and is one of the premier live-work-play communities in the United States,” the listing boasts.
CTO Realty Growth says they plan to use the net proceeds as part of a Section 1031 like-kind exchange, retroactively funding the Pompano Citi Centre acquisition, with remaining proceeds earmarked for future acquisitions.