Crestview Tower In Las Colinas Sold
Commecial Property Executive reports that Reserve Capital Partners and Trinity Investors have acquired Crestview Tower, a 262,962-square-foot office building in Irving, Texas, from CapRidge Partners. At the time of the sale, the property was 78 percent leased.
The Class A office building last traded in 2014, when CapRidge purchased it from Codina Partners for $40.7 million, according to CommercialEdge data.
Completed in 1982, the 12-story building has a steel frame construction type with a glass and masonry exterior. The mid-rise tower features a fitness center, a conference center, a tenant lounge, a restaurant, an outdoor patio, controlled access, 24-hour security, five-passenger elevators and some 1,100 parking spaces.
Crestview Tower is located at 105 Decker Court in the Dallas-Fort Worth market’s Las Colinas submarket. Situated in an area with several residential communities, dining options, retail centers and hotels, the property is also near Route 114 and Interstate 35E, which provide direct access to downtown Dallas.
The new owners are planning a multimillion-dollar renovation project, with financing provided by Southside Bank. Entos Design serves as the project’s main architect, with Reverse Capital’s construction team in charge of the renovation process.