Newmark Announces Sale of Class A Office Building in North Texas STEM Corridor
November 11, 2021 1:30 PM
Newmark announces the sale of Custer Court, a 121,596 square foot Class A office building located at 501 West President George Bush Highway in Richardson, Texas. Newmark Vice Presidents Chris Murphy, Robert Hill, Gary Carr and John Alvarado and Director Chase Tagen represented the seller, Origin Investments, in the sale. Newmark Director Josh Francis represented the buyer in the search for acquisition financing for the buyer, Larson Capital Management.
âCuster Court’s location in the North Texas STEM Corridor has made it an incredibly attractive offer, driving strong investor interest. With its low-rise configuration and above-market surface parking ratio, this property is also incredibly tenant-friendly in a post-COVID environment, Hill said.
Custer Court enjoys a prime location along the President George Bush Toll Freeway, just west of US-75 and adjacent to the Texas Instruments campus, which is undergoing a 3 , $ 2 billion. The property is also close to the University of Texas at Dallas, a growing public research university, the vibrant CityLine mixed-use development, and the billion-dollar Collin Creek Mall redevelopment.
About Origin Investments
Origin Investments helps high net worth investors, family offices and registered investment advisers develop and preserve their wealth by providing them with world-class real estate solutions. He is a private property manager who builds, buys and lends multi-family real estate projects in fast growing markets across the United States. Since their founding in 2007, they have executed over $ 2.6 billion in real estate transactions and their executives have invested over $ 60 million alongside our investors. They pride themselves on providing unparalleled service to their investors and their performance ranks them in the top decile of top performing private real estate fund managers globally ranked by Preqin, an independent provider of alternative investment data.
They are currently accepting new investors for their IncomePlus, Qualified Opportunity Zone and Multifamily Credit Funds open-ended funds, which seek to provide tax efficiency, improve portfolio returns, maximize growth and minimize portfolio volatility. To learn more, visit www.origininvestments.com.
Newmark Group, Inc. (Nasdaq: NMRK), along with its subsidiaries (âNewmarkâ), is a global leader in commercial real estate, seamlessly fueling every phase of the property lifecycle. Newmark’s full suite of services and products are uniquely tailored to suit every client, from owners to occupants, investors to founders, and startups to blue chip businesses. Combining the platform’s global reach with market intelligence in established and emerging real estate markets, Newmark provides superior service to clients across the industry. Newmark generated revenues of over $ 2.5 billion for the twelve months ending September 30, 2021. The offices owned by the Newmark company, as well as its business partners, operate from more than 160 offices with approximately 6,200 professionals worldwide. To learn more, visit nmrk.com or follow @newbrand.
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