A Dallas investor has scooped up an office tower in Las Colinas, bringing his holdings in the area to nearly half a million square feet.
On Thursday, DFW Land announced it acquired Corporate Point, an approximately 242,000-square-foot 10-story office tower at 5615 Highpoint Drive in Las Colinas, a master planned community in Irving.
The property, which was built in 1981 and renovated in 2007 and 2015, was previously owned by health care tech firm Gainwell Technologies. Gainwell said it plans to lease back the space for three months before permanently vacating.
Weitzman broker Creighton Stark and Matthew Rosenfeld of The Rosenfeld Company brokered the all-cash sale of the property for an undisclosed amount. David Davidson represented the buyer in the transaction.
“Corporate Point brings both a leasing opportunity with best-in-class building amenities for companies needing immediate occupancy, as well as the ability to tackle the currently active corporate build-to-suit market of Las Colinas with the additional developable 7.5 acres,” Stark said.
DFW Land principal Vijaya Borra said the purchase was motivated by plans to attract businesses across a slew of industries to tenant his property. In addition to the Corporate Point purchase, Borra previously acquired neighboring 1333 Corporate Drive.
“We’ve got half a million square feet of office space in the Las Colinas market we purchased in the last year that we’re working on. We’re looking for anybody who is interested in coming to the Las Colinas market,” Borra said. “There’s lots of office space in the area, so we have to compete with what’s existing so we’ll have to create amenities that will work in that market.”
He said plans are in the works to develop the remaining 7.5 acres on the property, but did not reveal any details.
Las Colinas is home to notable projects including Wells Fargo’s sprawling new 850,000-square-foot campus spread across two 10-story buildings on a 22-acre site.
CORRECTION, 10:05 a.m., May 20, 2025: An earlier version of this article had the wrong business affiliation for Matthew Rosenfeld. He is with The Rosenfeld Company.