Newmark Arranges Sale and Financing of Tollway Plaza Office Campus for Tourmaline Capital Partners in North Dallas

Newmark has arranged the sale and financing of Tollway Plaza, a 376,259-square-foot office campus located at 15950 and 16000 Dallas Parkway in Dallas, Texas, the firm announced June 18, 2026. Buchanan Street Partners was the seller, and Tourmaline Capital Partners, alongside an equity fund partner, was the buyer.

Transaction Details and Newmark Team

Newmark Vice Chairmen Robert Hill, Gary Carr and Brian Murphy, along with Director Austin Sheahan, represented Buchanan Street Partners in the sale. On the financing side, Senior Managing Director Chris McColpin and Vice Chairman Nick Scribani secured debt on behalf of Tourmaline Capital Partners and its equity fund partner, working alongside Vice Chairman Clint Frease, Senior Managing Director Andrew Porteous and Director Josh Francis.

Financial terms of the transaction, including sale price, loan amount, and cap rate, were not disclosed.

About Tollway Plaza

Tollway Plaza comprises two eight-story office towers situated on approximately 7.4 acres within North Dallas' Lower Tollway Corridor. Originally constructed in 1998 and 1999, the property was 91% leased at the time of sale and carries approximately 5.5 years of weighted average lease term remaining.

The campus has undergone extensive capital improvements in recent years, including lobby renovations, upgraded common areas, modernized building systems, enhanced tenant amenities and recently completed speculative suites. On-site amenities include a fitness center, conference facilities, a tenant lounge and an expansive outdoor courtyard.

The property's location along the Dallas North Tollway provides visibility to more than 160,000 daily commuters, according to Newmark. Since 2020, the campus has seen more than 300,000 square feet of new and renewal leases executed, a figure the firm cited as evidence of sustained leasing momentum.

"Tollway Plaza represented a compelling opportunity to acquire a well-located, institutional-quality office asset with strong in-place cash flow and meaningful upside through continued leasing activity," said Hill. "The property benefits from a highly desirable location, a diversified tenant roster and a history of sustained leasing momentum that continues to attract occupiers seeking quality space in North Dallas."

About the Firms

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm operating from more than 185 offices with over 9,600 professionals across four continents. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion.

Buchanan Street Partners and Tourmaline Capital Partners did not issue separate statements regarding the transaction.

Sources

Newmark Press Release: Newmark Arranges Sale and Financing of Tollway Plaza Office Campus in North Dallas (June 18, 2026)