Friday, February 20, 2015

Uptown Citymark office tower has new owner



Bradford Commercial Real Estate Services has purchased an Uptown office tower.

The 11-story Citymark tower is located at the entrance to the Dallas North Tollway at 3100 McKinnon St.

Hines Real Estate Investment Trust sold the 218,926-square-foot building, which is about 74 percent leased.

The purchase includes a half-acre of land for future development.

CBRE’s Gary Carr, John Alvarado, Eric Mackey and Robert Hill brokered the sale by Hines.

“Investors were attracted to Citymark for its tremendous upside potential and compelling economic profile,” Alvarado said in a statement.

Citymark’s largest tenant is Balfour Beatty Construction.

Citymark was built in the 1980s and has been owned by Hines since 2009.

Steve Brown, The Dallas Morning News