Plano’s The Shops at Legacy North has sold for $78 million.
Florida-based CTO Realty Growth Inc. announced the sale of the 243,000-square-foot development at 7300 Lone Star Drive on Dec. 19. The deal works out to about $321 per square foot.
Collin County records show the buyer is ACH Legacy North TX LLC. The firm is affiliated with Beaumont-based retail investor Albanese Cormier Management Group.
CTO purchased the shopping center in 2021 in a deal valued at $72.5 million.
D-FW Real Estate News
“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,” John P. Albright, president and CEO of CTO Realty Growth, said in a statement.
Recent data from CTO Realty shows the center is about 85% leased. Tenants include restaurants Jashan, Mexican Sugar, Benihani, Le Beef Steak & Frites and Wagyu House.
The shopping center is one of North Texas’ most popular.
The just-sold retail and office center was the second phase of the Shops at Legacy built by developer Fehmi Karahan’s Karahan Cos.
Plastic surgeons buy land at Frisco development
Two plastic surgeons have purchased roughly an acre of land at the $3 billion Railhead development in Frisco.
The tract, overlooking the project’s five-acre park, will be developed as an 11,000-square-foot building owned by Texas Facial Aesthetics, led by Dr. Matt Richardson and Dr. Jordan Cain.
Financial terms of the deal weren’t disclosed.
Sharon Herrin, Herrin Commercial Real Estate, represented the purchaser, and Annabelle Heady Garces of Heady Investments represented the seller. A groundbreaking is expected in the first week of January.
Railhead already includes 900 apartments developed by JPI with an additional 377 planned.
Developer Wallace Ventures is also planning an 18-story, Class A luxury hotel along with 38,000 square feet of retail facing the park just south of the hotel. Leasing for the retail will also be handled by Heady Garces.
Bandera Ventures and HPI are also marketing 5.3 acres at Avon and the Dallas North Toll Road for two seven-story, Class AA office towers. Each tower would be roughly 200,000 square feet.
Dallas shopping center trades hands
Brand Partners, a Dallas-based commercial real estate investment firm, has acquired the Forest Green Shopping Center, a 59,503-square-foot neighborhood retail center at 9025 Forest Lane and 11835 Greenville Ave.
Terms of the deal were not disclosed.
The sellers, a D-FW family, had owned the property since it was built in the 1970s. Deed records show the previous owner was Robert A. Smith of Crown Development Inc.
Planned exterior renovations will include a new roof, parking lot resurfacing, façade modernization and enhanced landscaping and lighting. Renovations are expected to begin in early 2026, the firm said.
Texas firm buys two D-FW apartment developments
Texas-based SPI Advisory acquired two North Texas apartment complexes — The Haven at Chisholm Trail and Canopy at South Lakes.
The Haven at Chisholm Trail is a 328-unit Class B development in southwest Fort Worth. Canopy at South Lake is a 240-unit Class A complex in Denton.
SPI didn’t disclose the terms of the deal.
“We at SPI are excited we were able to navigate the challenges of the current apartment market and get these deals closed.” Michael Becker, Principal of SPI Advisory, said in a statement.
SPI is headquartered in Dallas with a second office in Austin.
Dallas office tower sells for steep discount at $26.1 million, firm says
The buyer says it bought the property at a 64% discount compared to a previous sale.
Hang ten at D-FW $200M surf resort and other real estate news
Here are the latest sales, leases and deals across North Texas.
Luxury hotel chain owner buys downtown Dallas office tower
The new owners also own the Omni Hotels & Resorts chain.