Tourmaline Capital Partners has made a big move along the Dallas North Tollway, scooping up Tollway Plaza, a two‑building office campus in north Dallas. Sitting on more than seven acres and offering roughly 370,000 square feet of office space, the complex is reported to be more than 90 percent leased, a profile that fits neatly into the wave of institutional money targeting well-located suburban Class A offices in the DFW area.
Deal Confirmed By Local Reporting
According to the Dallas Business Journal, the buyer was identified as Tourmaline Capital, also referred to as Tourmaline Capital Partners, and brokerage firm Newmark told the outlet the campus was more than 90 percent leased. The Dallas Business Journal story, published today, did not disclose a purchase price, but it did highlight Tollway Plaza’s long record of steady tenancy in the north Dallas submarket.
Property Details
Commercial listing data show that Tollway Plaza, at 16000 North Dallas Parkway, totals roughly 370,073 square feet on about 7.39 acres and carries a LEED Gold certification. The same listing identifies CBRE brokers Tommy Nelson and Shannon Brown as the leasing contacts and notes more than 1,300 parking spaces for tenants. Marketed as multi‑tenant Class A space with easy Tollway access, the two‑building campus is positioned as a convenient option for office users who want a suburban address without sacrificing visibility.
Ownership History
Buchanan Street Partners acquired the campus in 2015 and, according to contemporaneous coverage, planned modest upgrades after that purchase. In a 2015 deal round‑up, Bisnow listed the Tollway Plaza transaction at 15950 and 16000 North Dallas Parkway and noted that the property was highly occupied at the time. The sale to Tourmaline brings the assets back under institutional ownership, aligning with a broader period of portfolio reshuffling in the office sector.
About The Buyer
Securities and Exchange Commission filings describe Tourmaline Capital Partners as an office‑focused investor that has accumulated millions of square feet across U.S. markets and list principals involved in its recent acquisitions. Those filings and related loan documents identify key principals such as Brandon Huffman and present the firm as operating with a multi‑market footprint. Industry coverage, including reporting by The Real Deal, has tracked Tourmaline’s involvement with other high‑profile office properties.
Market Context
Investors have been edging back into Dallas office properties this year as leasing and absorption improved, especially for higher-quality, well-located suburban assets. As noted by the Commercial Observer, the recovery has been uneven but has favored a flight to quality that rewards amenitized Class A campuses. For buyers seeking stable cash flow and lower lease‑up risk, Tollway Plaza’s Tollway frontage and high occupancy help explain why it landed on Tourmaline’s shopping list.
