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Children’s Health Acquires Local Property

Children's Health
Renderings of the Plano campus expansion | Image by HKS/Children's Health

The Children’s Health System of Texas appears to be expanding its footprint in Collin County, having recently purchased a nearly 20-acre campus in North Plano.

Dallas-based Children’s Health acquired the property at 5301 Legacy Dr. in December, a filing with the Collin County Central Appraisal District shows.

The 19.66-acre property, initially built in 1997, consists of a 296,434-square-foot three-story office building and a 270,414-square-foot parking garage. In 2022, the property was assessed for a little more than $49 million, roughly $5 million more than the year before but nearly $6 million less than in 2018, appraisal district data show.

“The acquisition of prime real estate near our Plano campus, at Legacy and Hedgcoxe Road, will facilitate the expansion of Children’s Health’s business operations to better capture the growing needs of the pediatric population in the area,” the children’s health institution told the Dallas Business Journal.

Children’s Health said it is “currently evaluating the best use of this property to serve our mission to make life better for children,” according to DBJ.

The nearly 20-acre property was sold to Children’s Health by Taconic Capital Advisors and Champion Partners, which financed the property in a $73 million finance deal with CIM Group in March 2022, according to a news release from the CIM Group.

The property was originally constructed in 1998 as the headquarters for Dr. Pepper. In 2019, Keurig Dr. Pepper announced that it would relocate from the Plano campus to a new 350,000-square-foot facility at The Star in Frisco.

The Children’s Health System of Texas has made a number of moves in an effort to effectively sustain its growth trajectory into the future.

This includes opening a 30,000-square-foot specialty center in Prosper as well as forming a partnership with the University of Texas Southwestern Medical Center for a $2.5 billion medical campus in Dallas, DBJ reported.

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