DALLAS, TX – Cawley Partners, a full-service Dallas-based commercial real estate company, and Balfour Pacific Capital, a real estate private equity firm based in Vancouver, have partnered in the purchase of Westpoint I, a 150,000 square foot office building located at 1255 Corporate Drive in the heart of the Las Colinas submarket. The 6-story, 91%-leased office building sits on a 5.3-acre site in close proximity to DFW International Airport, making it a desirable corporate destination that is easily accessible from throughout the Dallas metroplex.
“Westpoint I ticks many boxes for us. It’s a stabilized property anchored by investment-grade credit, but with value-add characteristics and significant upside,” commented Mark Scott, Balfour Pacific’s
Managing Partner, regarding the transaction. Westpoint I is the firm’s second acquisition in Dallas. In March 2020, Balfour Pacific acquired Toll Hill Office Park, located off the Dallas North Tollway at Harvest Hill Road, with management and leasing handled by Cawley Partners.
“We are excited to partner with Balfour on this excellent opportunity. We believe our firms are aligned both strategically and culturally and we look forward to building this partnership in years to come,” said Chase Stone, Director of Acquisitions at Cawley Partners.
Plans are in the works to add a new grab-and-go food service. Renovations of the restrooms and common areas are also planned for the first and second floors. Westpoint I is being leased by Addie Ludwig of Cawley Partners. For leasing information, please contact [email protected].
Jones Lang LaSalle’s Parker McCormack and Andrew Levy represented the Seller, Highbrook Investors.
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About Cawley Partners
Cawley Partners is a full-service Dallas-based commercial real estate company focused on building partnerships through developing, investing, managing, and leasing office buildings. Since 1996, the Company has experience with more than 12 million square feet of development and acquisition projects. The developments include office, retail, and industrial and have ranged from speculative to build-to-suit corporate headquarters. For more information please visit www.cawleypartners.com.
About Balfour Pacific
Balfour Pacific Capital Inc. is a private equity real estate firm focused on value-added investments in the United States. Should you wish to learn more about Balfour Pacific, please visit our website, www.balfourpacific.com.
