An exterior view of the old EDS corporate headquarters in Plano. AT&T is planning to build its global headquarters on the campus.
Tom Fox/Staff Photographer
A new developer-backed group has acquired the Plano campus where AT&T plans to build its new global headquarters, public records show.
Affiliates of Dallas-based NexPoint Development sold the 54-acre site to KDC Legacy Eagle HQ Investments One LLC. The company is affiliated with Dallas developer KDC, the firm overseeing AT&T’s new campus.
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The limited liability corporation was formed in February, and developer KDC is listed as the company’s sole principal. KDC’s chief investment officer Scott Ozymy serves as the new company’s vice president, records show.
The sales price and other terms of the transaction were not disclosed. The transaction was recorded in Collin County deed records on May 13.
The KDC-affiliated LLC entered into various agreements with AT&T regarding the new headquarters, county records show. Deed records provide scant details but show that AT&T will serve as their tenant. The terms of the agreement also give AT&T certain protections — including an option to purchase the property at a later date. KDC and AT&T also have an expense reimbursement agreement that dates back to late December 2025.
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Representatives for NexPoint and KDC did not immediately respond to questions regarding the transaction. AT&T declined to comment Monday afternoon.
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It’s the latest news involving the billion-dollar-plus development project for the Fortune 50 firm.
JPMorgan Chase, the country’s biggest bank, provided KDC a $400 million single-bank loan to support the development. It’s unclear if the money was used to fund the land purchase. Messages to JPMorgan Chase were not returned before publication.
AT&T announced in January that it was leaving downtown Dallas for the 54-acre campus at 5400 Legacy Drive.
Preliminary site plans show there will be 2.3 million square feet of building space. The office campus will also include a daycare center, a pedestrian bridge, three-quarters of an acre of public green space, and a tower. The southern half of the site will include parking garages.
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A 280-foot “landmark” tower will feature AT&T’s logo and include an enclosed communications antenna. One Plano official said the structure resembled a “mini Reunion Tower.”
The tallest building, excluding the tower, will be 8 stories.
Plano officials approved a $20 million incentive package and a lengthy tax rebate for the telecom giant earlier this year. It was the largest incentive package the city has given to a private employer.
AT&T must spend a minimum of $1.35 billion in construction costs on the project and build a minimum of 2 million square feet of office, amenity and retail space at the site. The company must also eventually employ 10,000 full-time workers at the property and occupy the headquarters for 25 years.
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AT&T will receive a 65% property tax rebate on improvements made at the site over 25 years, starting in 2030. The rebate could be extended for an additional decade at 25%, if the company purchases the site.
City officials said the land deal has no impact on previously approved incentives.
Plano’s planning and zoning commission approved a set of rezoning requests tied to the headquarters earlier this month. The Plano City Council must also approve.