Jerry Jones’ Blue Star Sells two Corner Parcels in Collin County
Jerry Jones’ Blue Star Land has offloaded two corner properties in Celina and Prosper, north of Dallas.
The Dallas Cowboys owner’s firm sold 15- and 25-acre parcels on the northeast and southeast corners of Preston Road and Frontier Parkway to Dallas-based Remington Partners, the Dallas Morning News reported. Remington, headed by Stan Graff, plans to convert the vacant sites into grocery-anchored shopping centers.
Matthew Kiran and Rex Glendenning of Rex Real Estate represented Remmington in the sales, while Joe Hickman represented Blue Star Land. Terms of the deal were not disclosed.
For Jones, it’s a rare instance of shedding land in the area, rather than acquiring it. Blue Star began purchasing parcels in the 1990s for its Gates of Prosper development, which is poised to become the largest mixed-use complex the town has seen. The 500-acre project is slated for 1,000 apartments, single-family homes and townhouses, along with more than 1 million square feet of shops and restaurant space.
Remington, meanwhile, joins the growing list of developers that are building grocery stores in Collin County. Last year, grocery chain H-E-B acquired a 20-acre tract in Prosper, and Dallas-based Urban Heights Real Estate bought 35 acres close by. Both projects are at the corner of Dallas North Tollway.
—Quinn Donoghue
