From Staff Reports
A familiar piece of Plano’s Legacy District quietly changed hands just before year’s end. The Shops at Legacy North sold for $78 million in December, marking a notable transaction in one of North Texas’ most closely watched mixed-use corridors.
Florida-based CTO Realty Growth Inc. announced that it sold the 243,000-square-foot lifestyle center located at 7300 Lone Star Dr. for $78 million. The buyer is listed in Collin County property records as ACH Legacy North TX LLC, an entity affiliated with Beaumont-based retail investor Albanese Cormier Management Group, the Dallas Morning News reported. Albanese Cormier owns retail properties in 18 states, including California, Florida, and Texas, and this marks the company’s first acquisition in North Texas.
What the Property Includes
The Shops at Legacy North first opened in 2007 as the third phase of the larger Legacy Town Center development in Plano, masterminded by Fehmi Karahan of the Karahan Companies. CTO Realty Growth acquired The Shops at Legacy North in 2021 for approximately $72.5 million, positioning the property as part of its Sun Belt-focused retail portfolio…