Hines REIT expands in Dallas

Acquires Citymark Building

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International real estate firm Hines announced that Hines Real Estate Investment Trust Inc. has acquired the Citymark Building in Dallas. The value of the transaction was not disclosed. Centex Office Citymark I L.P., an affiliate of Centex Corp., sold the property, which is an 11-story, 218,943-square-foot office building located at 3100 McKinnon St. The building, completed in 1987, includes a three-story lobby, a full-service cafe and an attached parking garage.  At the time of sale, the complex was 100 percent leased, with 76 percent leased to subsidiaries of Centex Corp., the investment-grade-rated home building and commercial construction company that occupies the building as its headquarters for its construction, mortgage and title divisions. Hines REIT is a Houston-based public real estate investment trust sponsored by Hines. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....