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KOA Nabs Former Verizon Campus Through Off-Market Deal

KOA Partners acquired a 200,000-square-foot, two-building office campus in Irving, TX, that once housed Verizon’s operations. The North Texas investor reached an agreement with Spire Realty of Dallas to acquire the property at 500 E. Carpenter Fwy. in an off-market transaction. The transaction included close to three acres for additional development. Spire owned the eight-story office complex since 2010.

KOA Partners’ Harry Lake told the Dallas Morning News that the company is planning to relocate offices from Uptown to the Las Colinas neighborhood. He noted that additional planned leases will bring the property up to 96% occupancy.

The office campus delivered in the 1980s as the headquarters for Federal Home Loan Bank.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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