One of the last development sites in Plano’s $3 billion Legacy West has quietly changed hands.
The 10-acre block is located near the southwest corner of the Dallas North Tollway and State Highway 121, north of Liberty Mutual Insurance’s high-rise campus.
The property has been owned by the partnership that started back in 2014 to develop the 250 acres surrounding J.C. Penney’s old headquarters campus in West Plano.
Since then, partners Karahan Cos., Columbus Realty and developer KDC have built what’s considered the most successful mixed-use development in North Texas, if not the entire state.
It’s home to thousands of workers for Toyota, FedEx Office, JPMorgan Chase, Liberty Mutual Insurance, Boeing and other companies.
Now KDC has purchased the largest remaining Legacy West building site not already earmarked for development.
“We absolutely see it — similar to the rest of Legacy West — as a great potential corporate location,” said KDC president Toby Grove.
Large corporate office campuses are KDC’s specialty. And property brokers expect the developer will be pitching the Plano property to businesses looking for new digs in Dallas’ northern suburbs.
The just-sold building site is across the street from where tax consulting firm Ryan LLC recently announced it will build a 24-story office tower. Construction is set to start on the 400,000-square-foot building in the first quarter of 2022.
And global financial adviser Vanguard is planning to open a large, new Plano office next door in one of Liberty Mutual’s towers.
Karahan Cos. and Columbus Realty still have about two acres left to build on in Legacy West.