January 13, 2020
The Ricchi Group acquired Optima Business Park, a 200,000-square-foot, two-building office complex in northwest Dallas. With the transaction, the Dallas-area buyer now owns buildings that once housed Mary Kay Inc.’s headquarters.
Jay Lucas with Cushman & Wakefield represented the seller, Optima Stemmons LLC. The buyer was represented by Lew Wood with Pan American Group LLC.
Situated at 8777 N. Stemmons Fwy., the asset consists of the eight-story Tower I, which opened in 1976, and the five-story Tower II, which followed in 1985. Mary Kay had its headquarters in the buildings, until 1995, when it relocated to Addison, TX. These days, the tenants include the Salvation Army’s DFW headquarters, as well as offices for Transport Workers Union.
The new owner has begun extensive renovations on its acquisition, which will be renamed El Dorado Towers. Improvements will include a gym, lounge and interior and exterior upgrades to the property.
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