Partners Achieve Goal with 186-Acre Sale

RICHARDSON, TX-KDC and State Farm Insurance generated media headlines the week of Dec. 10 when the former announced a $1.5 billion development on 186 acres purchased from Bush/75 Partners, and the latter struck a deal for space in the mixed-use property. But there are additional themes with this story: One of which was a successful land play on the part of Bush/75 Partners, and the other involving the fact that developers are buying land once again.

This story started in 2009, when Bush/75 Partners, consisting of Dallas firms Stratford Land and Parliament Group, acquired land on the southeast quadrant of North Central Expressway (US 75) and President George Bush Turnpike (SH 190). Though much of the CRE sector was in a slump (as was the entire economy), Stratford Land’s Senior Investment Manager for Texas Steve Sanders tells GlobeSt.com that it was the right time to buy land.