Las Colinas' Urban Towers goes ParallelLas Colinas' Urban Towers goes Parallelhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=64002013-09-09T13:08:00Z2013-09-09T00:00:00Z

IRVING - The two-building, 850,000-sf Urban Towers at 222 W. Las Colinas Blvd. off of SH-114 has been purchased by Parallel Capital Partners Inc. from CB Richard Ellis Strategic Partners for $125 million, or about $148 per sf.

The 11.2-acre, Class AA office high-rise complex, one of Las Colinas’ largest office projects, was built as the Xerox Centre in 1982 and 1984 and include a 22-story, a 17-story building and a parking garage. The purchase also includes land for a third high-rise.

The buildings are 88 percent occupied with major tenants including Celanese Corp., Verizon, HealthSmart and Union Standard Insurance Group. The Towers hold an Energy Star rating of 91 and LEED-Silver certification. The buildings have been owned by CBRE since 2006.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://bizbeatblog.dallasnews.com/2013/09/california-investor-buys-las-colinas-tower-complex.html/Read more at {Source}

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