November 1, 2016
It’s official. Tranwestern Investment Group and Mirae Global Investments Co. closed on the acquisition of State Farm Insurance’s regional hub in Richardson, TX. The deal was valued at $825 million, the largest single-tenant real estate transaction in North Texas history. The partnership, operating under the name Corporate Properties Trust I LP, will lease back the 2.2 million square-foot asset to Illinois-headquartered State Farm.
State Farm’s regional hub consists of four office and retail towers that anchor CityLine, a 186-acre mixed-use transit-oriented development near the Dallas Area Rapid Transit (DART) line. KDC is the developer.
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