January 11, 2022 11:00 AM
Newmark announces a new, 126,596-square-foot office/lab lease at 121 Corporate Center in Coppell, Texas. The full-building lease was signed to Nashville-based PathGroup—one of the largest providers of anatomic pathology, digital pathology, clinical and molecular laboratory services in the United States—and represents the company’s first location in the Dallas-Fort Worth area and its third in Texas.
Newmark Executive Managing Directors Nathan Durham and Duane Henley represented the landlord, Cabot and Link Logistics Real Estate (Link) on behalf of Blackstone. Cushman & Wakefield’s Dean Collins, Mark Collins, Jason Dodson, Michael Sessa and Jack Keenan represented PathGroup.
According to Newmark Research, the transaction is one of the largest office leases in the Las Colinas submarket in 2021, in terms of square footage.
“Office product that can accommodate hybrid office/medical/life science users continues to be in demand in DFW,” said Durham. “PathGroup’s growth and their establishment of a DFW location further demonstrates the momentum of the office market in Las Colinas.”
Located at 1111 Northpoint Drive, the office property is near ample restaurants, entertainment, retail and hotel amenities as well as outdoor recreation. 121 Corporate Center is walkable to nearby Coppell Nature Park, which features 66 acres of natural space with jogging/nature trails.
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. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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