Plano’s Legacy West Lures Luxury Brands

Legacy West, a $500 million, mixed-use development in Plano, Tex., will see a string of luxury store openings late this spring including Louis Vuitton, Tiffany & Co., Tory Burch and Chanel Beauty.

These stores, including Gucci which opened last week, will occupy a combined 16,529 square feet of retail space at Legacy West. Louis Vuitton and Tiffany will both exceed 4,000 square feet. Tory Burch will be just over 2,000 square feet and Gucci is the largest in the luxury group at 5,237 square feet.

“The arrival of these premium brands to Legacy West is the culmination of decades of hard work and vision,” said Fehmi Karahan, master developer of Legacy West and president and chief executive officer of The Karahan Cos. “The project’s success has always been based on delivering exciting experiences to the residents of North Texas.” Legacy West was developed in a partnership between Karahan, Invesco Real Estate and Columbus Realty.

There is a total of 343,000 square feet of retail in the development, as well as 435,000 square feet of office space, 782 multi-family units, and more than 20 restaurants and eateries.

“We’re very excited to bring a carefully curated group of luxury brands to Legacy West — especially of this caliber,” said Dave Laner, senior director, asset management at Invesco. “We believe our guests will appreciate ownership’s 100 percent commitment to continue expansion of our offerings at a variety of price points in multiple categories.”

View Gallery

Related Gallery

All of the Fashion at the 2021 BAFTA Awards

“We really created a special destination in the northern part of the Dallas-Fort Worth metroplex. This marketplace is becoming very dynamic, cultured and sophisticated,” said Mark Masinter, managing member of Open Realty Advisors, which was responsible for developing Legacy West’s retail vision and has been doing the leasing. He said many of the stores at Legacy West have been signing traditional, long-term leases at 10 years.

Masinter characterized Legacy West as a “town square” type of gathering place that has something for everyone. “We made it super democratic,” Masinter said. “If you are a luxury customer, you feel great here. If you want a hamburger at Shake Shack, you feel great here. Or you can just sit around the water feature or go to Lululemon.

“This project has gained significant momentum since opening in 2017 and, in spite of the temporary challenges the retail industry is currently facing, we anticipate more high-profile and like-minded brands will come to the development,” Masinter added.

The 10-building property, occupying 255 acres within the 2,600-acre Legacy Business Park, launched in 2017. “In spite of the temporary challenges the retail industry is currently facing, we anticipate more high-profile and like-minded brands will come to the development,” said Masinter, noting that a new Nike concept and a Free People store will soon open. Other stores already there include Bonobos, Sephora, J. Crew, West Elm, Tumi and Warby Parker.

The luxury retailers are located in a new building — the last one planned for Legacy West — and are being situated directly across from Legacy Hall, an artisanal food hall. Tory Burch and Chanel Beauty have scheduled May openings, while Tiffany and Louis Vuitton are set for June.

The nearest major shopping destination to Legacy West is The Shops at Willow Bend, which is four miles away. Galleria Dallas is 11 miles away; NorthPark Center is 18 miles away, and Highland Park Village and Knox Street are both 20 miles away.

Source: Read Full Article