Tourmaline Capital Partners Acquires Office Campus In Dallas From Buchanan Street Partners For Unspecified Amount

The property asset involved in the transaction is Tollway Plaza, an office campus located at 15950–16000 Dallas Parkway in Dallas, Texas. The asset comprises two towers with a total square footage of 376,259 and is situated on 7.4 acres of land. The property is currently 91% leased and features a weighted average lease term of approximately 5.5 years remaining.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Buyer: Brandon Huffman & Jeff Fronek - Tourmaline Capital Partners
• Seller: Timothy Ballard - Buchanan Street Partners
• Brokers: Robert Hill, Gary Carr, Chris Murphy & Austin Sheahan - Newmark
• Mortgage Brokers: Chris McColpin & Nick Scribani - Newmark

Newmark arranged the sale and financing of Tollway Plaza on behalf of the seller, Buchanan Street Partners. The transaction involved an equity partner with Tourmaline Capital Partners, representing the buyer side in this deal. The property, built in 1998–1999, has undergone extensive upgrades to enhance its appeal in the Lower Tollway Corridor market.