PenFed Credit Union Leases 30,000 Square Feet at Las Colinas Highlands

July 28th, 2021

DALLAS, TX – Cawley Partners is pleased to announce PenFed Credit Union has signed a lease to take 30,000 square feet at Las Colinas Highlands (LCH) in Irving. PenFed, the nation’s second-largest federal credit union with headquarters in Tysons, Virginia, will expand its mortgage origination and servicing business into the entire fifth floor of the office building.

“We are thrilled to have PenFed join our Las Colinas building. The location and highly efficient floor plans should serve them well and allow for the expected growth of their team,” commented Kristi Waddell, VP of Leasing with Cawley Partners.

“PenFed is expanding our mortgage origination and servicing businesses in Texas, and we’re eager to hire up to 300 new originations and servicing team members in Irving,” said Lee Wardlow, PenFed’s Senior Vice President of Mortgage Servicing. “LCH is offering us 30,000 square feet of space in Irving that will create an outstanding work environment for PenFed’s growing team of mortgage professionals.”

Las Colinas Highlands is a 200,000-square-foot, seven-story building located at 6191 N State Highway 161 in Irving, Texas. The building features large conference and training room space, a fully equipped fitness center with locker rooms, and a grab-n-go food service. The lobby underwent a complete renovation in 2020.

In 2019, PenFed expanded its Texas footprint by purchasing and opening its San Antonio Regional Financial Service Center which has created over 500 new jobs including management positions in research, mortgage and loan operations, financial service center operations, collections, information technology, and human resources.

Sara Fredericks with Newmark represented PenFed on the transaction and Kristi Waddell of Cawley Partners represented the Landlord. For further information about Las Colinas Highlands and leasing availability please contact Kristi Waddell at


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

About PenFed

Established in 1935, Pentagon Federal Credit Union (PenFed) is America’s second-largest federal credit union, serving 2.3 million members worldwide with $28 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services. Our mission is to empower members of our community to achieve their financial well-being. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit, like us on Facebook, and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.

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