Newmark Brokers Sale of Colonnade Office Campus in Addison

Newmark has brokered the sale of The Colonnade, an office campus of roughly one million square feet in Addison, a town in the northern Dallas metro. The property sits on 12.4 acres and includes three buildings linked by an enclosed, four-story atrium.

The sale closed through a receivership process. Newmark represented the seller, a partnership between Trigild and CWCapital. The buyer is a partnership between Connecticut-based Cross Ocean Partners and Dallas-based Lincoln Property Co.

The buyer has committed about $100 million to reposition the campus. Initial improvements are already underway, and the first phase of upgrades is expected to be finished throughout 2027. Planned changes to the existing fitness center, conference facilities and atrium lounge include an artisan coffee shop, tenant lounges, outdoor gathering spaces, a pickleball court, an indoor golf simulator and expanded dining.

For developers and lenders, the deal shows continued investor appetite for large, well-located suburban office assets that can be reinvested in and re-leased after a distressed sale.