Harwood International purchased the Citymark building on McKinnon Street, growing the footprint of the Harwood District in Downtown Dallas.
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The 11-story building sits on 3.7 acres at 3100 McKinnon St. and comes with a four-level parking garage, less than an acre of developable land, and 200 feet of frontage running alongside McKinnon Street, Harwood said.
Citymark is 66% leased and brings 226K SF into the district's portfolio, allowing it to accommodate rapidly growing demand for office leases in the neighborhood.
“The demand for being in the District of Harwood is higher than ever, as we are 98% leased,” Harwood International Director of Leasing Kelly Whaley said in a statement. “We have created a city within a city, catering to tenants, residents and patrons every day. We had to plan how to accommodate this large demand, and Citymark is instrumental in our overall strategy of expanding our District.”
The newly acquired building also gives potential tenants access to a pedestrian-friendly inner city hub and major thoroughfares.
“This unparalleled location with direct access to the Katy Trail and Dallas North Tollway is a dream for both pedestrians and commuters,” Harwood International Executive Vice President David Roehm said.
But Harwood is not stopping with this purchase. Demand for office space in DFW, particularly the Harwood District, prompted the company to brainstorm further acquisitions.
“These acquisitions further activate our four verticals — Asset Management & Leasing, Capital Markets, Development and Hospitality,” Roehm said. “We are targeting to acquire two to four more buildings in the next year in the Dallas market and plan to expand into other markets in the future.”
Harwood partnered with Waterfall Asset Management to buy Citymark. It was represented by Morgan Staub and Rob Steinwedell.
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