NexPoint's Cityplace Tower Selected as Neiman Marcus Group's New Corporate Hub in Dallas
The Uptown Dallas location will be an essential part of the integrated luxury retailer's new way of working
DALLAS, Aug. 4, 2022 /PRNewswire/ -- NexPoint, a multibillion-dollar alternative investment firm, today announced that its Cityplace Tower property, a 42-story office building located at 2711 North Haskell Avenue in the Uptown area of Dallas, will serve as the new home of Neiman Marcus Group's local hub. The integrated luxury retailer, which owns Neiman Marcus, Bergdorf Goodman, and Horchow, recently disclosed that it plans to open several corporate hubs throughout the country in areas where it has significant pools of employees. Neiman Marcus Group's Dallas hub at Cityplace Tower is expected to open in early 2023.
"NexPoint is thrilled to welcome Neiman Marcus Group as a tenant at Cityplace Tower next year" said Matt McGraner, chief investment officer, NexPoint Real Estate Advisors. "We look forward to enhancing the building and surrounding area for our visitors, tenants, and the broader community."
Cityplace Tower is an iconic building with sweeping panoramic views of the Dallas skyline. It is an ideal location for Neiman Marcus Group's corporate hub in Dallas as it is centralized off US 75 between Neiman Marcus' Downtown flagship store and offices and their other flagship store at NorthPark Center. The retailer's new hub will go through extensive renovations to prepare it with state-of-the-art design and technology features to support their new way of working, dubbed "NMG|WOW," which aims to create collaborative digital and physical spaces tailored to how its employees work post-covid.
Broader building projects include planned improvements to the building's vehicle entrance/exit off North Central Expressway, the expansion of the surface parking area, and a port-cochere for valet operations and to provide a space for drop-off/pick-up activities. In addition to access-related improvements, NexPoint plans to enhance the shared spaces and amenities for tenants, including renovations of the lobby, the introduction of concourse-level food and retail offerings, and the construction of a new fitness center. The project also includes plans to develop a five-star InterContinental® Hotel within the building.
Cityplace Tower is managed by NexVest Realty Advisors. Forge Commercial represents the building as its leasing agent.
About NexPoint
NexPoint is a multibillion-dollar alternative investment platform comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. The firm provides differentiated access to real estate and other alternatives through public and private REITs, 1031 exchanges and other tax-advantaged real estate vehicles, closed-end funds, interval funds, and a business development company (BDC). Investment solutions draw on NexPoint's core capabilities in real estate, capital markets, and credit. Within real estate, NexPoint has expertise across multiple property types, including multifamily, single-family rental, self-storage, hospitality, industrial, office/retail, timber, and life sciences. NexPoint is based in Dallas, Texas and is part of an integrated network of investment management and financial services businesses. For more information visit www.nexpoint.com.
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SOURCE NexPoint
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