Cawley Partners takes another building in Las Colinas
Purchase is the commercial property firm’s second buy this week.
The Westpoint I office building in Irving was built in 1997.(Cawley Partners )
Dallas-based commercial property developer and investor Cawley Partners has made its second major office acquisition this week.
Cawley Partners teamed up with Canada-based Balfour Pacific Capital to buy the Westpoint I office building in Las Colinas.
The six-story, 150,000-square-foot building is at 1255 Corporate Drive in Irving.
The new owners are planning to renovate the building, which was constructed near DFW International Airport in 1997.
“Westpoint I ticks many boxes for us,” Mark Scott, Balfour Pacific’s managing partner, said in a statement. “It’s a stabilized property anchored by investment-grade credit, but with value-add characteristics and significant upside.”