A New York investor has snapped up a Las Colinas office tower. The Point at Las Colinas is an 18-story building at 300 E. Carpenter Freeway in Irving. Built...
The Point at Las Colinas is an 18-story building at 300 E. Carpenter Freeway in Irving. Built in in 1983, the high-rise with more than 400,000 square feet is more than 90% leased to tenants including Lehigh Hanson, Populus Financial Group, BMO Harris Bank and Tenaska.
The tower sold to a New York-based buyer that financed the purchase with $37 million in debt from UMB Bank, Dallas County records show.“The Point at Las Colinas represents an excellent investment opportunity with immediate cash flow recognition in one of the market’s highest corporate demand locations,” according to JLL.Last year, California investor Menlo Equities acquired the four-building Royal Ridge office center on John Carpenter Freeway in Las Colinas.
North Texas office building sales have picked up in recent months after slowing to a crawl during the early days of the COVID-19 pandemic.