The 2.2 million-square-foot CityLine campus along US 75 and the President George Bush Turnpike was established in 2016. Now owned by real estate firm Newmark Group, it was previously owned by South Korean firm Mirae Asset Global Investments and Houston-based Transwestern Investment Group. Terms of the sale were not disclosed.
What you need to know
The 186-acre CityLine mixed-use development is home to corporate tenants, such as StateFarm and Raytheon, along with various restaurants, shops, residences and a hotel.
“CityLine is a dynamic development, well-situated to reap long-term appreciation, as the Metroplex continues to grow north,” Newmark Vice Chairman Chris Murphy said in the news release. “CityLine provided investors with capital preservation, coupled with significant upside opportunities.”
Within CityLine, there is a Dallas Area Rapid Transit station that currently has service from the red and orange lines. It will also have a stop along the Silver Line, which is an over $2 billion project to construct a commuter rail connected to Dallas Fort-Worth International Airport, once estimated service begins between late 2025 and mid-2026.
