Developer Ricchi Group Acquires Iconic Gold-Glass Optima Business Park Complex
An iconic Dallas business complex featuring two gold-glass towers from the 1970s and 1980s is now in the hands of real estate developer Ricchi Group.
The Dallas-Fort Worth developer has already launched renovations on Optima Business Park, a 200K SF office complex that previously served as one of the original homes to cosmetic giant Mary Kay's Dallas headquarters.
The towers are well-known along the Stemmons Corridor, with an exact address of 8777 North Stemmons Freeway. The property, which features both an eight-story and five-story office tower, will be rebranded as Eldorado Towers.
Cushman & Wakefield's Jay Lucas represented the seller, Optima Stemmons LLC, during negotiations, while Lew Wood of Pan American Group LLC represented the buyer, Ricchi Group. Current tenants include The Salvation Army's DFW headquarters and the Transport Workers Union.
“This is a well-known and recognized Dallas property,” Cushman & Wakefield's Lucas said in a press statement. “Ricchi Group is the perfect buyer for the complex, as they will be bringing life back into the property and the submarket as a whole.”
The buildings were remodeled previously in the early 2000s, so the property already has the groundwork set for Ricchi Group to push it back to a top-quality asset, the company said in a statement.
Remodeling plans include features that will pay tribute to the building's history as Mary Kay's iconic Dallas headquarters, according to Cushman & Wakefield.