Cawley Partners, Balfour Pacific Acquire Dallas Office Building
- Jan 14, 2021
A joint venture of Dallas-based Cawley Partners and Vancouver-based Balfour Pacific Capital has acquired Westpoint I, a 150,000-square-foot office building in the Las Colinas submarket of Dallas. JLL’s Parker McCormack and Andrew Levy represented the seller, Highbrook Investors. According to CommercialEdge, Highbrook had acquired the asset in 2016, with financing from LegacyTexas Bank.
Built in 1998, Westpoint is 91 percent leased and includes tenants such as BWW Law Group, Rand Worldwide, Moye Consulting and Hill International, among others. Cawley is handling leasing at the six-story building. The new ownership plans to invest in new amenities and renovate the restrooms and common areas on the first and second floors.
Located in Irving at 1255 Corporate Drive on 5 acres, Westpoint is within 6 miles of DFW International Airport. The asset is also 13 miles from downtown Dallas.
According to Cawley, the property is Balfour’s second acquisition in the metro. In March 2020, the company also purchased Toll Hill Office Park, located off the Dallas North Tollway at Harvest Hill Road. Cawley is managing that property and handling leasing.
Recently, Cawley also partnered with Staubach Capital to purchase two Class A office properties at a 475,000-square-foot campus in Southlake, Texas, another northern suburb of the metroplex.