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Parmenter Puts 800K-SF Mandalay Towers On the Market
Parmenter Realty Partners is selling The Mandalay Towers, a three-tower office complex in Las Colinas. Cushman & Wakefield is advising Parmenter. The Cushman team working on the project includes Matt Murphy, Todd Savage, Kelsey Shebay and Jared Chua.
The Dallas Business Journal reports that all three towers of the development, totaling over 800,000 square feet, are available. The complex is 82% leased.
In 2017, the three towers underwent a multimillion-dollar transformation that addressed the office space and 50,000 square feet of retail, with upgrades to the lobbies of the second and third towers as well as the addition of an outdoor courtyard, an outdoor kitchen, a koi pond and a walking trail, among other improvements.
The property is situated along the Mandalay Canal Walk, a tree-lined section of Las Colinas, and across from the 14-acre Water Street mixed-use development. The Las Colinas Urban Center overall has more than 50 restaurants and stores, more than 8,500 apartments and more than 2,200 hotel rooms.
