One of the largest property owners in Las Colinas purchased a well-known Irving office tower.
Piedmont Office Realty Trust, a Georgia firm that owns six office buildings in Irving and two in Dallas, bought the 12-story CVS Health Tower in Las Colinas on John Carpenter Freeway.
The seller of the property, Columbia Property Trust, has owned the facility since 2006. The building was built in 1999 and is occupied by tenants like CVS Health and IBM.
The Las Colinas property, marketed by Holliday Fenoglio Fowler LP, was part of a two-building sale worth $109.5 million. The second building in the sale is located in Arizona.
“We felt the time was right to realize the value of these assets and exit both markets,” Nelson Mills, president and CEO of Columbia Property Trust, said.