Irving Oil and Gas Firm Buys Las Colinas Office Campus

An Irving-based oil and gas firm has purchased a Las Colinas office park with plans to relocate to the project.TPS Realty LLC - a company set up by Mercury Operating LLC - bought the office campus on Campus Circle Drive south of Interstate 635.The 3-building Campus Circle complex was built in 1985 and contains 66,885 square feet.Arlington-based Hangover Opportunity Fund LLC has sold the buildings it acquired three years ago.Mercury Operating plans to move its offices into one of the buildings."There is not a lot of opportunity for owner occupants in this submarket for buildings in this size point," Clint Holland, acquisitions director for locally based SkyWalker Property Partners, said in a statement.The seller made extensive upgrades to the buildings which are currently leased to two other tenants.Terms of the sale were not disclosed.Mercury Operating is an oil and gas drilling company that's active in West and East Texas.  Continue reading...