Robert Sarver Acquires CityLine Office Complex In Richardson, Texas

1150 State Street, 1201 State Street, 1251 State Street, 1415 State Street & North Plano Road

Building Size

10,352,360 SF

Asset Type

Office

Closing

Nov 1, 2023

AI

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.