Former J.C. Penney HQ to undergo $1B redevelopment

​​​​​PLANO – Capital Commercial Investments bought the former J.C. Penney headquarters in L​​egacy business park.

The sale included 40 acres surrounding the campus.

The new owner will resume work on the $1 billion redevelopment of the 1.8 million-sf office campus.

Japan-based Miyako Hotel is planning a high-rise project in front of the existing office buildings. 

Cushman & Wakefield brokered the sale.

The Texas Real Estate Research​ Center has more on DFW real estate news:

• Local office news
• ​​Texas Quarterly Commercial Report