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Vestar Steps in as Asset Manager for Shops at Legacy North
Vestar has been retained by CTO Realty Growth Inc. as the asset management company for The Shops at Legacy North, an approximately 236,000 square foot mixed-use lifestyle property in Plano. CTO Realty Growth acquired the property in June 2021.
This new assignment will expand Vestar’s portfolio of managed assets in the Dallas/Fort Worth area to 740,000 square feet. Vestar operates more than 30 million square feet of retail space throughout the western United States.
“Post-COVID, the role of a shopping center’s property manager has become more important as consumer habits, tenant needs and marketing continue to evolve,” said Patrick McGinley, Vestar president of management services. “Vestar will add significant value to the property through our strategic management and marketing services. Dallas/Fort Worth is an important market for us.”
The Shops at Legacy North, which was constructed in 2007 and includes nearly 1,000 parking spaces, is currently 83 percent occupied. It is situated on 12.7 acres across the Dallas North Tollway from Legacy West.
- ◦Lease
