Dominus Commercial Inc Acquires Property From Transcontinental Realty Investors In Irving Texas

An office building located at 600 Las Colinas Blvd E, Irving, TX, has been acquired by a joint venture of Dominus Commercial Inc. and Convergent Capital Partners. The property consists of 512,269 square feet and is situated on nearly 5 acres. The 22-story Class A office tower, completed in 1982, features floorplates ranging from 22,000 to 23,000 square feet and includes a five-level, attached parking garage. Amenities on-site comprise a fitness center, conference room, and deli, with the office tower being 77 percent leased at the time of sale.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not Disclosed
• Address: 600 Las Colinas Blvd E, Irving, TX
• Market: Irving
• Seller: Transcontinental Realty Investors
• Buyer: Dominus Commercial Inc.
• Seller's Representatives: Chase Tagen (Newmark), Chris Murphy (Newmark), Gary Carr (Newmark), John Alvarado (Newmark)
• Previous Owner: Pillar Income Asset Management
• Investment for Renovations: $20 million
• Current Occupancy: 77 percent leased

The transaction involved prominent representatives from Newmark, including Vice Chairmen Gary Carr, Chris Murphy, John Alvarado, Robert Hill, and Director Chase Tagen, all of whom assisted the seller, Transcontinental Realty Investors. The new ownership group plans to implement various renovations, such as a new HVAC and filtration system, a full-service fitness center, a restaurant, tenant lounge, and conference center, along with other common-area improvements.