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Texas  + Dallas-Fort Worth  + Office  | 
1925 West John Carpenter Sells, Vistra will stay

Las Colinas Revamped Office Sells, Major Tenant Will Stay

A few years ago, one of Las Colinas most well-known office buildings, 1925 John West Carpenter, was just sitting there, vacant. The owner made a pitch to the Irving City Council that, in exchange for a 75% reimbursement on all taxes paid on the office building through June 30, 2038, they’d spend $30 million to upgrade the building, develop parking for a 1,000 cars and they’d find a Fortune 500 company to take 60% of the office space.

Just about a year later, JP Realty completed a $30 million renovation on the six-story building, built 1,200 parking spaces and landed Vistra Energy as their lone tenant. It’s their corporate headquarters, joining eight other Fortune 500 companies who have moved their global headquarters to Las Colinas. Vistra is 275th on the list. Now JP Realty has sold the building, but Vistra is staying.

The buyer’s name and sales price was not disclosed. Las Colinas has grown quickly the past decade, adding more than 80,000 single-family homes and 4,000 apartment units.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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