Newmark Brokers Sale of 262,962 SF Office Building in Irving’s Las Colinas District
IRVING, TEXAS — Newmark has brokered the sale of Crestview Tower, a 262,962-square-foot office building in Irving’s Las Colinas district.
The 12-story building sits on a 10.1-acre site and was renovated in 2015. Amenities include a fitness center, conference facilities, tenant lounge and various outdoor green spaces.
Robert Hill, Chris Murphy, Gary Carr and Chase Tagen of Newmark represented the seller, Austin-based CapRidge Partners, in the transaction. The buyer, a partnership between Reserve Capital Partners and Trinity Investors, has retained Stream Realty Partners to lease the building and hired Entos Design to reimagine the entryway, lobby, fitness center, tenant lounge and outdoor patio.
Crestview Tower in Irving was 78 percent leased at the time of sale, with the tenant roster carrying a weighted average remaining lease term of 3.5 years.