CTO Realty Growth Sells Mixed-Use Center In Plano For $78 Million

CTO Realty Growth sold a mixed-use center located at 7300 Lone Star Drive in Plano, Texas. The transaction involved a sale price of $78,000,000 for a property encompassing 243,000 square feet of space, with a price per square foot of $321. The asset features approximately 121,000 square feet dedicated to retail and an equal amount for office space, situated on a 12-acre lot near the Dallas North Tollway.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $78,000,000
• Square Footage: 243,000
• Address: 7300 Lone Star Drive
• Market: Plano
• Seller: John P. Albright - CTO Realty Growth
• Purchase Price in 2021: $72,500,000
• Acreage: 12 acres

This transaction highlights John P. Albright's role as the seller, representing CTO Realty Growth during the sale. The property, known as The Shops at Legacy North, underwent a significant price appreciation since its purchase in 2021, reflecting the evolving market conditions in the Plano area.