JCPenney looks to develop land
Retail Editor 2 -- Home Textiles Today, February 6, 2014
Plano, Texas - JCPenney is getting into the real estate business - in a limited way.
The company has partnered with Karahan Companies, Columbus Realty, and KDC to develop 240 acres of vacant land it owns adjacent to its headquarters complex here. Penney acquired the land in 1987 as it prepared to relocate from New York to Texas.
The property, located inside the Legacy Business Park at the southwest corner of the Dallas North Tollway and State Highway 121, will be developed into an office and mixed-use site.
Penney was one of the first companies to move into Legacy Business Park when it completed its home office space in 1992. The area is now home to businesses as well as shopping, dining and residential locations.
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