Feb 12, 2016
Up for grabs in Plano: JCPenney on the hot market
PLANO - For a building that’s more than 20 years old, J.C. Penney’s Plano corporate headquarters may wind up being the hottest property to hit the market in North Texas...
PLANO – For a building that’s more than 20 years old, J.C. Penney’s Plano corporate headquarters may wind up being the hottest property to hit the market in North Texas in many decades.
The big retailer has hired commercial real estate firm CBRE to find a buyer for its 1.8 million-sf head office complex located just west of the Dallas North Tollway.
Unlike in the early 1990s when the sprawling corporate campus was sitting in farmland, Penney HQ is now surrounding by the $2 billion Legacy West development —Texas’ biggest mixed-use real estate project.
And along with the Penney buildings, almost 40 acres of surrounding land is up for grabs where more construction can be done.
Penney’s campus is just across the street from where Toyota is building is new North American headquarters.
FedEx Office has already opened its new world headquarters an adjacent site and JPMorgan Chase and Liberty Mutual Insurance are building huge new regional office centers next door.
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