August 12, 2021 3:00 PM
Newmark announces the sale of The Offices Two at Frisco Station, a 210,424-square-foot, Class A office building located at 6303 Cowboys Way in Frisco, Texas. Completed in early 2020, The Offices Two is the second office building in Frisco Station, a 242-acre, mixed-use development by VanTrust Real Estate. Newmark Vice Chairmen Gary Carr, Robert Hill, Chris Murphy and John Alvarado and Director Chase Tagen represented the seller.
Designed by HKS, The Offices Two at Frisco Station offers modern office space with large floor plates and covered access to structured parking. Building amenities include an upscale tenant lounge, fully equipped fitness center with locker rooms and showers, conference facility and robust communications and power infrastructure powered by AT&T’s 5G Evolution.
The Offices Two at Frisco Station is 95% leased to high-profile, investment-credit tenants generating a secure, long-term cash flow. Publicly traded companies account for 90 percent of the property’s leased space while Fortune 1000 firms account for nearly 50 percent of the property’s net rentable area.
“This sale reflects the incredible demand we are seeing for best-in-class assets in high-growth submarkets across the state of Texas. The Offices Two at Frisco Station is one of the premier newly constructed assets located in one of the fastest growing cities in America,” said Hill. “We have seen tremendous activity from institutional capital on recent offerings, which has resulted in new high-water marks from a pricing perspective in the DFW market.”
The Offices Two at Frisco Station is walkable to over 30 restaurants and entertainment destinations, five hotels and more than 2,700 urban lofts and high-rise residences. With easy access to the Dallas North Tollway and the Sam Rayburn Tollway (SH 121), the property is within 20 minutes of Dallas/Fort Worth International Airport and Dallas Love Field.
Frisco is a hub for corporate lifestyle centers, which include Frisco Station and the adjacent Star in Frisco—anchored by the Dallas Cowboys world headquarters. Five minutes to the north, work continues on a $600-million development that will feature the PGA of America’s new headquarters, an Omni Resort and two championship golf courses that will host the 2023 Senior PGA Championship and first of two PGA Championships in 2027.
Frisco led the nation in population growth over the last decade. Its growth rate of 71.1 percent outpaced other large U.S. cities with a population of 50,000 or more, according to the U.S. Census Bureau.
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. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
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