DALLAS – February 19, 2015 –CBRE Capital Markets announces the sale of Citymark, a Class A office building in Dallas’ exclusive Uptown submarket. The asset is located at 3100 McKinnon Street on a 3.7-acre site and is comprised of an 11-story office tower, four-level parking garage and 0.5-acre developable parcel with roughly 200 feet of frontage along McKinnon Street. The office asset offers a total of 218,926 rentable square feet and is currently 73.6 percent leased.
“Investors were attracted to Citymark for its tremendous upside potential and compelling economic profile,” said Mr. Alvarado, Senior Vice President of CBRE. “Its location within Uptown also offers a sophisticated and vibrant, pedestrian-oriented neighborhood within Dallas’ preeminent and consistently best-performing office submarkets.“
Citymark offers flexible, efficient floor plates, tremendous views and visibility, ample on-site parking, and an abundance of walkable amenities. On-site amenities include a full-service deli with indoor and outdoor seating, a fully equipped fitness center, and a landscaped plaza with a half-court basketball court and jogging trail. Citymark houses the U.S. headquarters of its largest tenant, Balfour Beatty Construction.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.