Coit Center claims a high-profile site

2/23/2001 - Dallas Business Journal

Developers aim to make Coit Center the Preston Center of Plano, a sought-after, pedestrian-friendly area but with improved access and smoother traffic flow.

When Coit Center is complete, it will include about 1 million square feet of space, including 500,000 square feet of office space and more than 250,000 square feet of retail. Additional space has been designed for a mid-rise hotel and several restaurants.

The development is at the northeast corner of President George Bush Turnpike and Coit Road, on one of the region's hottest corridors, the Bush Turnpike.

The mixed-use development is the site of one of Dallas' first Central Market stores, the hot grocery concept developed by San Antonio-based H-E-B. Lincoln Property Co. is handling retail development for the 25-acre tract that includes the 75,000 square foot Central market and other retailers.

Silver Tree Partners, run by principals Paul Gardner and Alan Moore, is developing the massive project on land purchased from the Texas Instruments Pension Fund.

Ground-breaking on the Central Market store and adjacent retail is planned for this month. The super-market is planned to open this fall, followed by the other retail and restaurant space that make up the first phase in 2002.

Deryl Comer of Mercantile Realty represented TI Pension Fund. Sherwood Blount with Parkway Realtors represented H-E-B, and Tim Hughes with Beckerman Hughes Realty Advisors represented Silver Tree Partners.

Good, Fulton & Farrell Architects of Dallas is project architect, with Jones and Boyd of Dallas as project engineers. Financing was provided by Silver Tree Partners and Wells Fargo.

Click to view the associated document