Jerry Jones’ Blue Star Land is selling two corner properties in Celina and Prosper, just north of Dallas.
The Dallas Cowboys owner’s firm is selling 15 and 25 acres at the northeast and southeast corners of Preston Road and Frontier Parkway to Dallas-based Remington Partners, The Dallas Morning News reported. report. Remington, led by Stan Graff, plans to convert the vacant site into a grocery-focused shopping center.
Matthew Kiran and Rex Glendenning of Rex Real Estate represented Remington in the sale, while Joe Hickman represented Blue Star Land. Terms of the deal were not disclosed.
For Jones, this is a rare example of land being relinquished rather than acquired in the region. Blue Star began buying sites in the 1990s for its Gates of Prosper development, which was expected to be the town’s largest mixed-use complex. The 500-acre project plans to build 1,000 apartments, single-family homes and townhomes, as well as more than 1 million square feet of store and restaurant space.
Meanwhile, Remington joins a growing number of developers building grocery stores in Collin County. Last year, grocery chain HEB acquired a 20-acre parcel of land in Prosper, as well as the Urban Heights Real Estate in Dallas. purchase 35 acres nearby. Both projects are located on the corner of the Dallas North Turnpike.
— Quinn Donoghue
