PLANO, TX-Sealy & Grant LP will be under way by month’s end on infrastructure for 55 of its 82 acres in far north Dallas. The plan is to break ground in August on the first of three 180,000-sf value-office buildings for Palomino Crossing, a $150-million to $200-million development of “green” office and retail.

The affiliate of Shreveport, LA-based Sealy & Co. owns 55 acres at the southeast corner of Texas 121 and Spring Creek Parkway and the 27-acre southeastern corner, which lies in the Colony. The larger site includes 14 acres for retail and a hotel. Talks have just begun with the Colony to put multifamily and additional retail on its side of the project. Development manager Michael Sealy says a site plan will be submitted “shortly” to the city.

With the office plan firmly planted, Sealy tells GlobeSt.com that joint venturing will be considered along with outright land sales for retail, hotel and multifamily developments. Sealy estimates it will take seven years to build out the 82 acres. With the immediate focus on office, he says the development will be paced, with a second office building not about to start until Palomino Crossing I is stabilized.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.