JP Realty sells fully leased office complex in Las Colinas

JP Realty Partners has sold a fully leased, Class A office building in the Las Colinas submarket of Dallas. The property totaled 403,151 square feet.

JLL Capital Markets, which closed the deal, announced the sale Monday but the price was not disclosed.

Renovated in 2021, the office building at 1925 West John Carpenter Freeway is fully leased to Vistra Energy as their corporate headquarters. It sits on 30 acres and includes a newly built, 1,200-space parking garage.

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Originally called El Ranchito de Las Colinas, or “the Little Ranch of the Hills,” Las Colinas was developed in 1972 by cattle ranching millionaire Ben H. Carpenter, and is now home to the headquarters of eight Fortune 500 companies.

JLL has also recently brokered the sale of a three-story building located at 200 W. John Carpenter Freeway. The oldest office building in Las Colinas, it dates back to Carpenter’s original development in 1972.

That property was bought by Dallas-based Rosewood Property Co., which plan to redevelop the former Allstate campus centered in the commercial district of Las Colinas, filled with several high-rise offices, retail space, luxury hotels, townhomes, single-family units, golf courses and lakes.