State Farm regional hub sold in sale-leaseback transaction

​RICHARDSON – Corporate Properties Trust, a partnership between Transwestern and Mirae Asset Global Investments Co., has purchased State Farm Insurance’s regional hub in a deal valued at $825 million.

This deal is the biggest single-tenant real estate transaction in North Texas history. 

With four office and retail towers and structure parking garages, the regional hub will ultimately house 8,000 North Texas employees. The development sits in the $1.5 billion, 186-acre CityLine mixed use development near North Central Expy. and the President George Bush Turnpike.

State Farm is leasing the buildings.