Gemini Rosemont signs Nexstar Media Group to 11-year lease extension at
The Summit at Las Colinas

LOS ANGELES, CA – February 8, 2023 – Gemini Rosemont Commercial Real Estate, a vertically integrated real estate investment management firm specializing in Class A multi-tenant office and luxury multi-family residential properties, has signed Nexstar Media Group to an 11-year lease extension at The Summit at Las Colinas.

Nexstar has been headquartered at The Summit at 545 E. John Carpenter Freeway in Irving, Texas, since 2013. The company has doubled its footprint to 44,121 square feet since signing its initial lease and occupies two full floors in the 375,706 square foot, 19-story Class A office tower.

Nexstar Media Group, Inc. (NYSE: NXST) is America’s largest local television and media company with 200 broadcast stations (including partner stations) in 116 markets addressing more than 68 percent of U.S. television households and a growing digital media operation. Approximately 110 employees, including its executive leadership, are based at The Summit.

The Summit is headquarters for multiple companies, including Nexstar, College Football Playoff, The American Athletic Conference, and Highgate Hotels, among others. 

“The Summit’s proximity to where our employees live made the decision to extend our contract for the long term an easy one,” said Tom Carter, Nexstar’s executive vice president and chief financial officer. “The new, highly visible Nexstar Media Group building signage that will be seen from a major thoroughfare and the continuation of the high level of customer service by The Summit’s on-site property management team that we’ve enjoyed over the past decade enhanced the deal.”

Built in 1983 and recently renovated, the office tower features unobstructive panoramic views of downtown Dallas and the surrounding urban center. It is in the heart of Las Colinas, one of the nation’s premier master-planned communities, with DART (Dallas Area Rapid Transit) access to Dallas/Fort Worth International Airport within walkable distance. It also has an 11-story parking structure, offering an above market parking ratio. The Summit is ENERGY STAR® Certified, is a BOMA 360 Performance Program® designated property and was awarded the CEL National Real Estate for Excellence in 2018.

“To have a company with the stature of Nexstar Media Group make a long-term commitment to The Summit during these market conditions is not only a big win for our team, but the entire local business community,” said Jeff Schweitzer, regional director for Gemini Rosemont’s Central Region. “We appreciate Nexstar’s ongoing long-term commitment to The Summit at Las Colinas, and the confidence they have in our on-site property management team and look forward to working with them into 2033 and hopefully, beyond.”

The CBRE team of Jeff Ellerman, vice chairman, and John Ellerman, executive vice president, represented Nexstar in the lease negotiations. Gemini Rosemont was represented by JLL’s James Esquivel, managing director, Ashley Curry, senior vice president, and Lauren Halstedt, vice president.