Newmark has announced the sale of Wellington Centre, a 210,465-square-foot office property located at 14643 North Dallas Parkway in Dallas, Texas. Newmark Vice Chairmen Gary Carr, Chris Murphy, Robert Hill and Director Chase Tagen represented the seller, Taiwanese investment firm Fidelity Commercial, in the sale to the buyer, Pratt Street Capital.
Wellington Centre comprises a 10-story, Class A office tower with an adjacent parking garage situated on three acres along the west side of the Dallas North Tollway. Built in 1986 and renovated in 2015, Wellington Centre features a café with a dining area, a modernized conference center, several tenant lounges and outdoor seating areas. Wellington Centre is 91% leased to a diverse base of tenants.
Positioned on the Dallas North Tollway, Dallas’ premier thoroughfare, Wellington Centre is surrounded by North Texas’ preeminent corporate headquarters, affluent residential neighborhoods and the finest retail and entertainment. With priceless visibility and direct access to multiple highways, the property is within 20 minutes of Dallas/Fort Worth International Airport and Dallas Love Field.
Despite capital markets headwinds, the Dallas Capital Markets group of Carr, Murphy, Hill and Tagen has successfully closed transactions approaching $600 million in Dallas-Fort Worth since May 2022.
