KDC-affiliated group purchases the 54-acre Plano site for AT&T's planned 2.3M SF global headquarters.
An LLC affiliated with Dallas-based developer KDC has acquired the 54-acre property at 5400 Legacy Drive in Plano, the site selected for AT&T's new global headquarters. While terms of the land deal remain undisclosed, AT&T will serve as the developer's tenant, with the agreement providing the telecom giant an option to purchase the site in the future.
The project involves a multibillion-dollar development featuring 2.3 million square feet of office, amenity, and retail space. Plans call for an eight-story office building, a 280-foot landmark tower, a daycare center, and public green space, all supported by a $400 million loan from JPMorgan Chase. To facilitate the move, the City of Plano has approved a $20 million incentive package and a 25-year tax rebate, requiring AT&T to invest at least $1.35 billion in construction and eventually employ 10,000 workers on-site.
Ricchi Group is auctioning its 268,000-square-foot office tower at 1111 Mockingbird Lane in Dallas with a $2.75 million starting bid.
DFW Land acquires 8020 Park Lane, a 120,923-square-foot Class A office building in Dallas.
The Plano City Council approved a rezoning request for AT&T's 54-acre headquarters campus, authorizing a 280-foot landmark communication tower.
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