Las Colinas Office Building Revamped by New Owner

New owners are remodeling a Las Colinas office project with plans to lease out vacant space.American Fidelity Assurance purchased the Granite Plaza building at 7301 N. State Highway 161 in Irving.The 4-story building has been renamed Plaza one61 and commercial real estate firm JLL has been hired to market the property.Built in 1999, the building was developed and sold by Plano-based Granite Properties to the Oklahoma insurance firm. Terms of the sale were not disclosed.About 23,000 square feet is vacant in the more than 195,000 square foot building."We are thrilled to partner with American Fidelity Assurance on Plaza one61," Jay Bailey with JLL said in a statement. "This asset is poised to meet the growing demand within one of Dallas' most active office submarkets. American Fidelity Assurance's foresight and vision for this unique office opportunity provides the ideal blend of amenities and location for future tenants."Renovations include an upgraded conference center and food service facilities.JLL's Bailey and Ahnie Sheehy are marketing the building to tenants.Tenants in the building include Earthlink Business, Mortgage Connect, United Surgical Partners and Central Mutual Insurance Co.Demand for office space in Las Colinas is strong with only a 13.5 percent vacancy rate, according to JLL.  Continue reading...