Tourmaline Capital Acquires 376K-SF Dallas Office Campus

Newmark arranged the sale and financing of Tollway Plaza, a 376,259-square-foot office campus along the lower tollway at 15950 and 16000 Dallas Parkway in Dallas, Texas. 

Newmark Robert Hill, Gary Carr, Chris Murphy and Austin Sheahan represented the seller, Buchanan Street Partners, in the transaction. Chris McColpin and Nick Scribani secured financing on behalf of the buyer, Tourmaline Capital Partners and its equity fund partner. 

Situated on approximately 7.4 acres along the Dallas North Tollway, Tollway Plaza consists of two eight-story office towers positioned within North Dallas’ Lower Tollway Corridor. The property was 91% leased at the time of sale. 

Originally constructed in 1998 and 1999, the property has undergone extensive capital improvements. The campus features a fitness center, conference facilities, a tenant lounge and an expansive outdoor courtyard. The property boasts an approximately 5.5-year weighted-average lease term remaining and has demonstrated strong leasing performance, with more than 300,000 square feet of new and renewal leases executed since 2020.