Richardson's CityLine office tower and mixed-use campus is being acquired by a firm created by former Phoenix Suns owner Robert Sarver.
The high-rise complex is being acquired by a firm created by former Phoenix Suns owner Robert Sarver.
The more than 2 million square-foot CityLine campus includes four office towers, retail space and a medical building on Bush Turnpike in Richardson. One of North Texas’ biggest corporate campuses has sold in one of the largest U.S. property trades of 2023.complex in Richardson is a real estate investment firm created by Arizona businessman and former Phoenix Suns basketball team owner Robert Sarver. CityLine last changed hands for more than $800 million in 2016.The high-rises – which are fully leased to State Farm Insurance – are the centerpiece of the $1.
Sarver bought the Suns and the Phoenix Mercury WNBA team in 2004 for $401 million. In September 2022, the NBAfor a year and fined him $10 million after an investigation found he had engaged in what the league called “workplace misconduct and organizational deficiencies.” The punishment came nearly a year after the NBA asked a law firm to investigate allegations that Sarver had a history of racist, misogynistic and hostile incidents over his nearly two-decade tenure overseeing the franchise.to new ownership led by mortgage executive and former Michigan State basketball star Mat Ishbia. It was described as the largest team purchase in NBA history.in downtown Dallas – changed owners.
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