Robert Sarver Acquires CityLine Office Complex In Richardson, Texas | 1150, 1201, 1251, 1415 State Street & 3661 North Plano Road | Alex Foshay, Robert Hill, Gary Carr, Chris Murphy, Kevin Shannon, Ken White | Office | Sale

Summary

Sale

TEXAS

Office

10,352,360 sqft

The partnership between Mirae Asset Global Investments and Transwestern has sold the office component of the CityLine complex in Richardson, Texas, to Robert Sarver. This transaction is significant as it marks one of the largest office transactions in 2023. The portfolio consists of fully occupied Class A office buildings and retail space, with State Farm being the main tenant. The property is located at 1150, 1201, 1251, and 1415 State Street, as well as 3661 North Plano Road, and spans a total of 2,070,472 square feet on 186 acres in the Richardson market.

Summary of transation details

Property Type: Office
Transaction Amount: Not specified
Address: 1150, 1201, 1251, 1415 State Street & 3661 North Plano Road
Market: Richardson
Square Footage: 2,070,472
Acres: 186

Robert Sarver is the buyer of the CityLine office complex. The seller is the partnership between Mirae Asset Global Investments and Transwestern, with Larry P. Heard representing Transwestern. The deal was facilitated by brokers Alex Foshay, Chris Murphy, Gary Carr, Ken White, Kevin Shannon, and Robert Hill from Newmark.

Players

All
7

Agents
6
Agencies
1

Alex Foshay

Vice Chairman, Divisional Head of International

$805M Sold

Co-Head of U.S. Capital Markets

$4.9B Sold

Ken White

Executive Managing Director

$3.6B Sold

Newmark

Details

Deal Summary

SOLD

IMAGE: Larry P. Heard, Alex Foshay, Chris Murphy, Gary Carr, Ken White, Kevin Shannon & Robert Hill DATE: 11/01/2023 ADDRESS: 1150, 1201, 1251, 1415 State Street & 3661 North Plano Road MARKET: Richardson ASSET TYPE: Office ~ SF: 2,070,472 ~ ACRES: 186 BUYER: Robert Sarver SELLER: Mirae Asset Global Investments; Transwestern (@Transwestern) - Larry P. Heard BROKERS: Alex Foshay (@AlexFoshay), Chris Murphy, Gary Carr, Ken White, Kevin Shannon & Robert Hill - Newmark (@Newmark) NOTE: The partnership between Mirae Asset Global Investments and Transwestern has sold the office component of the CityLine complex in Richardson, Texas, to Robert Sarver, marking one of the largest office transactions in 2023. The portfolio is fully occupied by State Farm and includes several Class A office buildings and retail space.

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Address1150, 1201, 1251, 1415 State Street & 3661 North Plano Road

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