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News release

Dallas, TX

JLL announces sale of land in high-traffic area of Plano

Projected growth drives interest for land acquisition


Dallas, April 17, 2018 – JLL today announced the firm has successfully completed the acquisition of six acres on the northeast corner of Highway 75 and Legacy in Plano.

JLL Senior Vice President Chris Gibbons represented the buyer in the transaction, Three VP Texas, LP. Jerry Spencer, LP was the seller.

"Retailer interest remains strong throughout North Texas, particularly in Far North Dallas," said Gibbons. "High traffic areas like this one are highly coveted. The new owner is in a great position to capitalize on projected growth in our region. We're thrilled to play a role in making this deal happen."

Three VP Texas, LP is expected to begin construction on a WoodSpring Suites Hotel on a portion of the site immediately with the remaining available for fuel, convenience, retail and food services.

Dallas continues to see significant interest by retailers for land. This is the second sale for JLL's Retail team in this month. The firm announced the sale of an 11.07 acre site at the southeast corner of President George Bush Turnpike and Firewheel Parkway expected to serve as the location for At Home's new 108,000 square foot storefront.

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.