Dallas money just made a loud entrance into suburban Columbus. A Dallas investor has agreed to pay about $60.2 million for the office buildings at The Pointe at Polaris, the mixed-use campus just off Polaris Parkway in suburban Columbus. The purchase covers roughly 245,500 square feet of office and retail space on about 15 acres and hands over one of the submarket’s newest trophy assets. Brokers say the deal is the latest sign of out-of-state capital flowing into Polaris.
As reported by Columbus Business First on May 21, the sale listed the combined price at $60.2 million and tied that figure specifically to the office buildings at The Pointe. The outlet’s coverage supplied the price and square-footage totals that first put the number in public view.
Newmark, which brokered the transaction, says Dallas-based DFWLAND acquired the office and retail components from a joint venture between VanTrust Real Estate and NP Limited Partnership. Newmark’s April 29 release describes the campus as about 212,366 square feet of "trophy" office space plus 33,071 square feet of retail, a combined footprint that aligns with the roughly 245,500-square-foot figure. "The Pointe at Polaris is a best-in-class mixed-use asset that reflects the quality VanTrust delivers nationwide," Newmark quoted in its announcement.
Commercial Property Executive earlier noted the office and retail buildings sit at 8890 and 8940 Lyra Drive and that the sale excluded two residential buildings on site, which together contain 473 units. The outlet also reported that the larger, four-story office building came online in 2021 with roughly 35,000-square-foot floorplates and that the mixed-use building has ground-floor restaurants and cafés that help feed daytime traffic.
Polaris Keeps Pulling Outside Capital
Investors have been buying into both apartments and commercial space at Polaris in recent weeks. On May 13, two Lyra Drive apartment buildings at The Pointe were reported to have been sold for about $60.2 million, underscoring demand for multifamily in the submarket. That cross-product interest helps explain why out-of-state firms like DFWLAND are moving into Columbus, chasing steady tenancy and proximity to Polaris Fashion Place.
What’s Next for Tenants
DFWLAND has been expanding beyond Texas this year, and Newmark said the acquisition adds another top-tier investment to the buyer’s growing Midwest portfolio after recent deals such as Park Place Village. For tenants, brokers say the immediate priorities will be operational continuity and maintaining the fully leased status that made the asset so attractive in the first place.
Columbus Business First provided the $60.2 million price tag while trade coverage from Commercial Property Executive laid out the buyer, sellers, and building footprints. The transaction highlights continued investor appetite for high-quality suburban product in Central Ohio even as national office markets face headwinds.
