A high-profile Irving office tower has been purchased by a Georgia investor that already has significant holdings in the area.
Piedmont Office Realty Trust bought the 12-story CVS Health Tower on John Carpenter Freeway in Las Colinas.
Built in 1999, the high-rise is leased to tenants including CVS Health and IBM. The tower was sold by Columbia Property Trust, which has owned the building since 2006.
Columbia said the Las Colinas property sale was part of a two-building disposition that included a property in Arizona and totaled $109.5 million.
Nelson Mills, president and CEO of Columbia Property Trust, said in a statement that “we felt the time was right to realize the value of these assets and exit both markets.”
Holliday Fenoglio Fowler LP marketed the CVS Health Tower for sale.
Piedmont Office is already one of the largest property owners in Las Colinas. It owns a half dozen other office buildings in Irving and two buildings in Dallas.
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