Dallas Investors Buy Prime Prosper Property Near Tollway

Investors have purchased a key property in Prosper with hopes for future development.The Standridge Cos acquired 60 acres near the northwest corner of the Dallas North Tollway and U.S. Highway 380.The site is adjacent to the planned Children Medical Hospital on the west side of the tollway."We were excited to have the opportunity to acquire the tract and look forward to working with the Town of Prosper and neighboring landowners," Standridge Cos' Tommy Crowell said in a statement. "Recently, there have been numerous large investments made in the area and we wanted to be a part of the future development of this dynamic intersection."We believe this corner has the potential to be the next Legacy West."The property is north of were the PGA of America is building its new headquarters campus and the 2,500-acre Fields Development.Dallas Cowboys owner Jerry Jones' Blue Star land is developing the area just to the east at Preston Road and U.S. 380.Standridge Cos purchased the Prosper property from Liberty Bankers Life Insurance Co. John St. Clair of Younger Partners brokered the deal.Standridge Cos is a privately held Dallas-based real estate investment company with shopping centers and land holdings.  Continue reading...

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