REIT pays $28M for Lewisville’s 163,000-SF Lake Vista Pointe

LEWISVILLE – City Office REIT has purchased Lake Vista Pointe, a 163,336-sf office building located at 2911 Lake Vista Dr. The contract purchase price for the property was $28.4 million, exclusive of closing costs.

Built in 2007, Lake Vista Pointe is 100 percent leased to Ally Financial Inc. The property is part of Vista Ridge Business Park, which is home to a variety of large institutional companies such as JPMorgan Chase and TIAA-CREF.

Lake Vista Pointe is leased to Ally Financial on a triple-net basis through April 30, 2021. Ally has one five-year renewal option of the lease. The property consists of a two-story office building with 1,070 parking spaces on 13.8 acres.

Read more at Equities.com and at City Office REIT.