Newmark Completes Sale of Three-Building, 304,099-SF Office Campus Along the Dallas North Tollway

November 5, 2024 1:00 PM

Newmark announces it has completed the sale of International Business Park 8, 9 and 10, a three-building, 304,099-square-foot office campus located along the Dallas North Tollway in the heart of Dallas, Texas. Newmark Vice Chairmen Chris Murphy, Robert Hill and Gary Carr represented the seller, Billingsley Company, in the sale to an undisclosed user.

“International Business Park offers an exceptional location for large corporate tenants seeking access to a highly educated workforce, complemented by the outstanding quality of life that the North Dallas suburbs provide,” said Murphy. “This campus exemplifies the ideal blend of accessibility and livability, making it a premier choice for businesses aiming to succeed in a competitive market.”

The campus is 79% leased to a diverse base of credit-quality tenants, with a five-year average occupancy rate of 85%.

International Business Park features a vibrant, live-work-play location in the fast-growing Upper Tollway/Legacy submarket. The campus is conveniently located near Dallas’ most sought-after shopping, dining and entertainment destinations, including West Plano Village, The Shops at Willow Bend and Preston Park Village. With immediate access to President George Bush Turnpike and proximity to Dallas North Tollway, the properties offer excellent visibility and premier accessibility.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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