The Plaza of the Americas, a three-building office property spanning 1.2 million square feet, has recently been sold in one of the most notable transactions this year. Led by Newmark Chris Murphy, a team represented M-M Properties as the seller in this significant deal.
Located at 600 and 700 North Pearl Street in Dallas, these two 25-story office towers are connected by a glass atrium and feature over 120,000 square feet of retail and dining space on their first and second floors. Additionally, there is an eight-story parking garage on site for convenience.
Originally built in 1980, new ownership under Shelbourne Global plans to kick off a multi-million-dollar renovation later this year. This sale comes shortly after Federal Deposit Insurance Corp.’s lease signing for over half of the available space at Plaza of the Americas – making it one of downtown Dallas’ largest leases signed within the past decade.
Currently more than half leased out already with tenants occupying over60%ofthe buildings’ total space,this transaction marks another milestone for Connect CRE’s continued successinthe commercial real estate market.
