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3/04/16
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Las Colinas Commons Office Park, a 239.4k sf, three-building business campus in Irving, TX, was acquired by West Walnut Hill LLC. The price was not disclosed.
The campus is on 17.25 acres at 1525, 1555 and 1621 W. Walnut Hill Lane in the Las Colinas/Urban Center/ Freeport submarket. It is strategically positioned in close proximity to the Dallas-Fort Worth International Airport with significant footage along West Walnut Hill Lane. The Las Colinas area is rich in amenities, including restaurants, hotels and professional services and has convenient ingress and egress, making it a preferred destination for corporate users and large tenants.
Steve Rowland, Steve Simon, Fletcher Cordell and Nathan Durham of Transwestern represented the seller, Behringer Harvard Las Colinas LP, in the transaction.
“The lack of speculative space slated for development in the submarket and the price point and rents Las Colinas Commons offers added to its appeal in the marketplace,” said Rowland. “This property presents a compelling value-add opportunity.”
“Las Colinas continues to be one of Dallas-Fort Worth’s most active leasing markets, with consistent positive absorption and a high volume of large users choosing the submarket,” said Cordell. “Further, its proximity to DFW Airport and major highways will draw in tenants from throughout the Metroplex.”
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