Cosmetics Giant Mary Kay Explores Sale of Addison Headquarters

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Mary Kay Inc., the global cosmetics company, has announced that it is exploring the sale of its large headquarters campus in Addison, Texas. The company says that with the current strong real estate market and high land values in the Dallas area, now is the perfect time to consider selling the 546,000-square-foot, 13-story building and 33-acre site that it has occupied since 1994.

Why it matters

The potential sale of Mary Kay's prominent headquarters campus along the Dallas North Tollway would be a significant real estate transaction in the region, reflecting the company's evolving real estate needs and the continued growth and development of the Dallas-Fort Worth metroplex.

The details

Mary Kay says it currently only utilizes about 20% of the 33-acre site it purchased in 1994 for its global headquarters. The company is now looking to reassess its campus footprint and align it with its long-term needs. The highly visible headquarters building has been listed for sale by commercial real estate firm Cushman & Wakefield, which is marketing the property as having flexibility for a buyer to either repurpose the existing building or pursue a large-scale mixed-use redevelopment of the entire site.

• Mary Kay has occupied the Addison headquarters campus since 1994.

What’s next

The sale process is still in the early stages, and Mary Kay has not yet announced a timeline for when the headquarters property could be sold.