Newmark Arranges Sale of Trophy Dallas Office Tower, The Link at Uptown

Rhea-AI Summary

Newmark Group (NASDAQ: NMRK) has facilitated the $218 million sale of The Link at Uptown, a Class AA office tower in Dallas, Texas. The transaction, representing the largest office property sale in Dallas this year, was arranged on behalf of Kaizen Development Partners, with Cousins Properties (NYSE: CUZ) as the buyer.

The 25-story building, completed in 2021, spans 292,000 square feet and features premium amenities including a customer lounge, fitness center, conference facilities, and an outdoor terrace. The property hosts notable tenants such as Houlihan Lokey, PMG, and McGuireWoods, with all leases signed post-pandemic.

The sale highlights Dallas-Fort Worth's strong market position, ranking first in projected employment and population growth through 2026, with top-tier post-pandemic job recovery and return-to-office rates.

Positive

• Largest office property sale in Dallas year-to-date at $218 million
• Property is 100% leased with post-pandemic agreements, indicating strong demand
• Premium Class AA office space with 292,000 square feet in prime Uptown location
• Dallas-Fort Worth market ranks first in projected employment and population growth through 2026

Negative

• None.

Insights

Commercial Real Estate Investment Analyst

Newmark's arrangement of Dallas' largest 2023 office sale signals strong investor confidence in premium office assets despite broader market challenges.

Newmark (NMRK) has arranged the $218 million sale of The Link at Uptown, a Class AA office tower in Dallas, establishing a new high-water mark for Dallas-Fort Worth commercial real estate transactions this year. This trophy asset sale from Kaizen Development Partners to Cousins Properties (CUZ) represents a significant achievement in today's challenging office market environment.

The transaction carries substantial weight for several reasons. First, the property is fully leased with all post-pandemic commitments, demonstrating strong tenant confidence in premium office spaces despite remote work trends. Second, the deal occurred just weeks after Newmark's arrangement of the Sterling Plaza sale, suggesting acceleration in high-end office investment activity in the region.

The Link at Uptown embodies the flight-to-quality trend dominating commercial real estate, featuring luxury amenities, advanced technology integration, and an irreplaceable location in Dallas' prime district. At 292,000 square feet across 25 stories, the 2021-built tower represents the type of Class AA asset that continues attracting investment despite broader office market headwinds.

For Newmark, this transaction reinforces their leadership position in facilitating major commercial deals, particularly important as they compete for high-profile listings in a contracted transaction environment. For investors, it signals continued institutional appetite for premier office assets in growth markets, with Dallas-Fort Worth's strong fundamentals (leading post-pandemic job recovery and top-three return-to-office rates) providing validation for commercial real estate allocation strategies focused on sunbelt metros.

Transaction is the Largest for an Office Property in Dallas Year-to-Date¹

DALLAS, July 31, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the Company has arranged the $218 million sale of The Link at Uptown, a recently delivered Class AA office tower in the Uptown submarket of Dallas, Texas. Vice Chairmen Chris Murphy, Robert Hill and Gary Carr and Director Austin Sheahan arranged the transaction on behalf of the seller, Kaizen Development Partners. Newmark Executive Vice Chairman and Head of International Capital Markets Alex Foshay also supported the transaction, which marks a new high sales price paid for the Dallas-Fort Worth area this year. The sale comes less than three weeks following the previous high watermark that was set through a Newmark-led sale process for Sterling Plaza.

The buyer is Cousins Properties (NYSE: CUZ), a real estate investment trust headquartered in Atlanta.

"This transaction is a resounding endorsement for Dallas-Fort Worth and a clear indicator of the market's strength," said Murphy. "The outcome achieved here underscores investor conviction for best-in-class office and is a testament to the exceptional quality of the product delivered by our client, Kaizen. We look forward to the continued stewardship and success that The Link will experience under the new ownership of Cousins, one of the most respected and successful public REITs in the world today."

Built in 2021 and featuring a luxury compilation of amenities and technology, the 25-story Link at Uptown totals 292,000 square feet with unobstructed, panoramic views in all directions. The property includes a diverse tenant base that spans multiple industries, with notable occupants including Houlihan Lokey, PMG and McGuireWoods. All of the property's leases were signed post-pandemic, with significant opportunity for future rent growth.

The Link at Uptown's office space is located above an amenity floor featuring a customer lounge, fitness and conference centers, and outdoor terrace with activity lawn. The trophy tower further benefits from its irreplaceable location in the center of Dallas' finest hotels, residences, restaurants and entertainment.

Dallas-Fort Worth continues to demonstrate nation-leading growth and resiliency, ranking first in projected employment and population growth through 2026. With the strongest post-pandemic job recovery, a top-three national return-to-office rate, and consistent rent and absorption gains, DFW remains one of the most dynamic and competitive U.S. metros for business and talent.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

¹ By sales price, according to Newmark Research and Real Capital Analytics

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SOURCE Newmark Group, Inc.

FAQ

What is the sale price of The Link at Uptown office tower in Dallas?

The Link at Uptown was sold for $218 million, marking the largest office property sale in Dallas year-to-date.

Who bought The Link at Uptown from Kaizen Development Partners?

Cousins Properties (NYSE: CUZ), an Atlanta-based real estate investment trust, purchased The Link at Uptown.

What is the size and occupancy of The Link at Uptown office tower?

The Link at Uptown is a 25-story, 292,000-square-foot Class AA office tower with tenants including Houlihan Lokey, PMG, and McGuireWoods.

What amenities does The Link at Uptown office tower offer?

The property features a dedicated amenity floor with a customer lounge, fitness center, conference facilities, and outdoor terrace with activity lawn.

How does this sale reflect on the Dallas-Fort Worth real estate market?

The sale demonstrates DFW's market strength, as the region ranks first in projected employment and population growth through 2026 with strong post-pandemic recovery.