Legacy Commercial Realty · Confidential briefing · August 2026
A medical office campus for a city that just started compounding.
909 E Pecan Grove Rd, Sherman, TX 75090. 1.56 acres between a dermatology clinic, senior living, and Sherman Town Center — with a $400 million hospital opening on the other side of town in 2028.
Sherman 2025
52,417
+20% vs 2020
Grayson County
153,613
+13.3% vs 2020
Subject lot
1.56 ac
67,866 SF vacant
Neighbor land ask
$1.41M/ac
815 E Pecan Grove
Purpose-built MOB sale
$273/SF
1700 Gallagher Dr
Class A medical rent
$22.50 NNN
TMC campus, Denison
Thesis
Sherman does not have a demand problem. It has a product problem.
From 2020 to 2025 the city added twenty percent. Texas Instruments and GlobalWafers are stacking a semiconductor workforce on a county that already served a rural hinterland and southern Oklahoma. Heritage Regional Medical Center — $400 million, 100 beds — breaks ground on the west side and opens in early 2028.
Meanwhile the in-town office stock is still a 1982 Class B tower asking $19–21 a foot, and the cleanest purpose-built medical sale on the board is a 4,397 SF clinic at $1.20M — $273/SF. New medical product is scarce. That is the opening.
The closing is cost. At today's construction numbers a speculative multi-tenant MOB on this lot does not pencil against Sherman rents. The broker path is owner-user condominiums or a credit build-to-suit, not a 7% cap trophy.
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Market analyst
Grounded in this survey. One question at a time — it spends real model quota.