Dallas-based commercial property developer and investor Cawley Partners has made its second major office acquisition this week.
Cawley Partners teamed up with Canada-based Balfour Pacific Capital to buy the Westpoint I office building in Las Colinas.
The six-story, 150,000-square-foot building is at 1255 Corporate Drive in Irving.
The new owners are planning to renovate the building, which was constructed near DFW International Airport in 1997.
“Westpoint I ticks many boxes for us,” Mark Scott, Balfour Pacific’s managing partner, said in a statement. “It’s a stabilized property anchored by investment-grade credit, but with value-add characteristics and significant upside.”
The purchase is the second recent local transaction for Balfour. In 2020, Balfour Pacific acquired the Toll Hill Office Park at Dallas North Tollway at Harvest Hill Road in North Dallas.
Read the full story at Dallas Morning News.