February 12, 2018 – IC-SB Princeton Land Partners, L.P. (ICSB), a partnership that owns apx. 296 acres of currently undeveloped land north and south of Highway 380 near Boorman Lane and Princeton High School, sold a 33-acre parcel to an investor partnership. The property was acquired in June 2016.
This sale is part of the Princeton Crossroads project, a mixed-use, master planned development which includes retail., commercial, medical, office, single family and multi family. IC-SB is led by Dallas based International Capital, LLC, a brokerage firm and real estate investment company focused on providing commercial real estate services to family offices and high net worth individuals.
The buyer, a European family office, purchased the southeast corner of U.S. Hwy 380 & Boorman Ln. The FO plans to hold the majority of the property for long-term appreciation purposes but is also interested in developing several pad sites once utilities become available.
Princeton Crossroads is slated to become the “new” city of Princeton. There is also an on-going discussion for a new City Hall and City Park within Princeton Crossroads.