Caterpillar Inc Acquires 400000 Square Foot Office From Vari For 515 Million In Irving
901 West Walnut Hill Lane
Building Size
400,000 SF
Asset Type
Office
Closing
Dec 8, 2025
About this deal
AI
The property asset involved in this transaction is a 400,000-square-foot office building located at 901 West Walnut Hill Lane in Irving, Texas. The asset spans 15 acres and was recently acquired by Caterpillar Inc. from Vari. The total transaction amount is valued at $51.5 million.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $51.5 million
- Address: 901 West Walnut Hill Lane
- Market: Irving
- Square Footage: 400,000
- Acres: 15
- Buyer: Joe Creed - Caterpillar Inc
- Seller: Jason McCann - Vari
This transaction marks Caterpillar Inc.'s latest investment in the Dallas-Fort Worth area following the relocation of its global headquarters in 2022. Joe Creed represents Caterpillar Inc. in this deal, while Jason McCann represents Vari.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93