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18-Acre Buy Ends Eight-Year Development Wait

PLANO, TX-Regency Centers will break ground in the spring on a $12-million, 90,757-sf shopping center that takes its name from the anchor. Signature Plaza will have a 61,962-sf grocery with fuel center, 28,795 sf of shop space and four pad sites.

By Connie Gore | Updated on December 22, 2003

PLANO, TX-After nearly eight years of eyeing the land, the Jacksonville, FL-based Regency Centers has acquired about 17.9 acres for a 90,757-sf, grocery-anchored center on the Plano-Frisco border. The $12-million project breaks ground in the spring.

Signature Plaza, gleaning its name from the Kroger anchor, will rise on the Texas 121 border of the two fastest-growing cities in the state. The Plano-seated development, if all goes as planned, could deliver in fourth quarter 2004. “But, everything has to go absolutely perfect for that,” James Buis, Regency’s managing director for the Southwest and Midwest regions, tells GlobeSt.com.

The development will consist of a 61,962-sf Kroger Signature store and fuel center, 28,795 sf of inline space and four pad sites, situated at the high-traffic corner of Coit Road and Texas 121. The pre-leasing campaign, with a quoted rate in the low $20 per sf range, is under way with Regency’s preferred customer roster for shop space while negotiations are progressing with a bank and fast-food restaurant for pad sites.

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