North Texas is experiencing significant activity in its commercial and residential real estate sectors. A key Uptown office building sale is poised to become one of the region's largest deals of 2025, while new residential and commercial projects continue to break ground across the Dallas-Fort Worth metroplex.
Key Takeaways
- Texas Capital Center sale to Crescent Real Estate could be a top 2025 deal.
- Union Investment sold the property for an undisclosed amount above its last valuation.
- New apartment complexes are under construction in Fort Worth and Farmers Branch.
- The Regional Hispanic Contractors Association opened its new Dallas headquarters.
- Texas Trust Credit Union expanded its presence with a new Mansfield branch.
Uptown Office Building Changes Ownership
The Texas Capital Center, located at 2000 McKinney Avenue in Dallas, has been sold to Crescent Real Estate. This firm is led by Fort Worth billionaire investor John Goff. Dallas County Deed Records confirm the transaction.
This sale is positioned to be one of North Texas's largest real estate deals in 2025. The building sits directly across from Klyde Warren Park, a prominent urban green space.
"We have successfully developed the Texas Capital Center over the past ten years or so, creating value for our fund investors," said Adam Irányi, head of investment management global at Union Investment. "The landmark transaction demonstrates the high quality of our global real estate portfolio."
Details of the Transaction
Union Investment, a German-based seller, acquired the property in 2016 for approximately $226 million. While the exact sale price to Crescent Real Estate was not publicly disclosed, Union Investment stated that the amount "is above the latest valuation."
This suggests the sale price surpasses the $218 million paid for The Link at Uptown. That transaction, involving the building at 2601 Olive Street, was previously the largest property sale in the area this year.
Property Profile
- Address: 2000 McKinney Avenue, Dallas
- Primary Tenant: Texas Capital Bank
- Lease Term: Texas Capital Bank's lease extends through 2040
- Total Area: 456,000 square feet
- Usage: Primarily office space with some retail
- Occupancy: Approximately 20% of the building is vacant
- Parking: Includes a parking garage accommodating up to 1,347 vehicles
New Residential Developments Across the Metroplex
The Dallas-Fort Worth region continues to see growth in its residential sector. New apartment projects are breaking ground to meet housing demand.
Westbend Residences in Fort Worth
Trademark Property Company announced the start of construction for Westbend Residences in Fort Worth earlier this month. This new apartment community will feature 321 units.
The development is situated on 3.5 acres. It offers direct access to the Trinity Trails and is conveniently located near Texas Christian University. Completion of Westbend Residences is expected in early 2027.
Phase Two Development
Westbend Residences represents the second phase of Trademark Property Company's larger mixed-use community. The first phase, redeveloped in 2016, includes 281,000 square feet of office and retail space. This initial phase is currently 100% leased to a mix of national and local businesses.
The Royalton at Mercer Crossing in Farmers Branch
SWBC Real Estate, LLC, has also started construction on a new luxury apartment complex. This project, named The Royalton at Mercer Crossing, is located in Farmers Branch and will offer 500 units.
The development will span 9 acres and will be built in two phases. The first phase will include 262 units. The project features a clubhouse with a business lounge and Wi-Fi, private workstations, and a fitness center. Residents will also have access to walking and biking trails, electric vehicle charging stations, and a four-story parking garage. The property is adjacent to a 15-acre private lake, offering additional amenities.
Cross Architects, based in Allen, is the architect for the project. John R. McAdams Company, from Raleigh, N.C., is the engineer. Dallas-based Carleton Companies serves as the general contractor.
New Facilities for Local Organizations
Beyond residential and large commercial sales, the region also saw the opening of new facilities for local organizations, reflecting ongoing community and business growth.
Regional Hispanic Contractors Association Headquarters
The Regional Hispanic Contractors Association (RHCA) opened its newly remodeled headquarters in late September. The facility is located at 2210 W. Illinois Avenue in Dallas.
"RHCA has always been about creating pathways to opportunity," stated John Henry Martinez-D., president and CEO of RHCA. "This center will ensure Hispanic-owned and other small businesses and construction workers have the tools, resources and training they need to thrive in Texas’ growing construction economy."
The new headquarters aims to support small businesses and construction workers in the expanding Texas construction sector. It provides essential tools, resources, and training.
Texas Trust Credit Union Branch in Mansfield
Arlington-based Texas Trust Credit Union has expanded its services by opening a new branch in Mansfield. The new location is at 1051 N. State Highway 360.
L. Keeley Construction designed the 2,600-square-foot branch. The credit union reported that it serves approximately 6,000 members in the Mansfield area, indicating a strong local presence and a need for expanded physical services.
Outlook for North Texas Real Estate
The combination of major commercial transactions, new residential construction, and expanded community facilities highlights a dynamic real estate market in North Texas. Experts anticipate continued growth, driven by population influx and economic development.
The region's ability to attract significant investment, as seen with the Texas Capital Center sale, underscores its appeal. Meanwhile, ongoing residential projects address the demand for housing, supporting a growing workforce.
These developments contribute to the overall economic strength and vitality of the Dallas-Fort Worth metropolitan area. The diverse range of projects, from luxury apartments to new organizational headquarters, reflects a broad-based expansion across various real estate segments.
