$51M good'buy' in Irving; $58M good'buy' in Phoenix; hello office buyers | $51M good'buy' in Irving; $58M good'buy' in Phoenix; hello office buyers | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=15489 | 2016-12-21T06:00:00Z | 2016-12-21T23:30:00Z | IRVING – The Irving office tower, called CVS Health Tower, was sold as part of a larger deal. The Irving office tower sold as part of a $109.5 million portfolio by Atlanta-based Columbia Property Trust Inc.—which has now exited the Dallas and Phoenix markets. The Arizona property is located in Chandler (near Phoenix) was purchased by City Office REIT for $58.5 million, according to AZRE. The Irving property sold to Piedmont Office Realty Trust for about $51 million.
The Irving tower, called CVS Health Tower, is a 12-story, 315,000-sf office building at 750 W. John Carpenter Freeway. Columbia Property Trust had owned the 17-year-old office building in Irving for the past decade. It is primarily leased to the building's namesake CVS Carmark and IBM.
The other building—SanTan Corporate Center in Chandler, Arizona—is also a Class A office building. SanTan Corporate Center for $58.5 million.
SanTan Corporate Center consists of two office buildings with a combined 267,000 sf. Built in 2000 and 2003 and acquired by Columbia in 2006, both buildings are 100 percent leased. | Dallas Business Journal
| Dallas-Fort Worth-Arlington
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