Remington Partners Acquires Development Site In Dallas From Blue Star Land
Dallas
Building Size
—
Asset Type
Development Site
Closing
Jul 11, 2023
AI
Dallas Cowboys owner Jerry Jones' Blue Star Land has sold two corner properties in Celina and Prosper, north of Dallas, to Remington Partners for the development of grocery-anchored shopping centers. The properties, located at the northeast and southeast corners of Preston Road and Frontier Parkway, cover a total of 35 acres. The transaction took place on July 11, 2023, in Dallas.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: Northeast and southeast corners of Preston Road and Frontier Parkway
- Market: Dallas
- Buyer: Remington Partners - Stan Graff
- Seller: Blue Star Land - Jerry Jones
- Buyer's Representative: Matthew Kiran & Rex Glendenning - Rex Real Estate
- Seller's Representative: Joe Hickman
This sale marks a departure from Jerry Jones' usual land acquisitions in the area. The buyer, Remington Partners, plans to develop grocery-anchored shopping centers on the acquired properties. However, no further details regarding the transaction amount or the specific plans for the development have been provided.
Players
Texas Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93