PRESS RELEASE: Chambers Street Acquires Las Colinas Office Campus

PRINCETON, NJ – Chambers Street Properties (NYSE: CSG), a net lease industrial and office real estate investment trust, announced that it has acquired Carpenter Corporate Center I and II, a two-building office campus totaling 226,822 square feet located within the Las Colinas master-planned development in Irving, Texas.

This is Chambers Street’s third office asset in the Dallas/Fort Worth Metroplex, one of the largest urban population centers in the country. In addition to three office properties, the Company owns more than 2.5 million square feet of warehouse/distribution properties in the area.

Chuck Hessel, Senior Vice President of Acquisitions, Chambers Street, said: “This was a terrific opportunity to acquire another prime office asset, 100 percent leased to an investment grade tenant.”

Carpenter Corporate Center I and II consists of two three-story buildings constructed in 2008 and 2009 on 16.6 acres. Carpenter Corporate Center I carries an Energy Star® designation and Carpenter Corporate Center II is awaiting Energy Star certification.  Both buildings offer 38,000 square foot floor plates and amenities include an on site café and fitness center as well as parking for 1,107 vehicles. The property is leased to a subsidiary of a major healthcare company on a long-term lease with a parent guarantee.

The property is located conveniently to Dallas/Fort Worth International Airport and 8 miles northwest of downtown Dallas within the 12,000 acre Las Colinas master planned development. Las Colinas is home to more than forty Fortune 500 companies and occupancy in the submarket’s Class A office buildings is 90 percent and climbing. 

About Chambers Street Properties (NYSE: CSG)

Chambers Street is a leading net lease industrial and office real estate investment trust that focuses on acquiring, owning and operating high-quality warehouse/distribution and office properties leased to creditworthy tenants.

Chambers Street's $3.2 billion portfolio of 129 properties spans 22 U.S. states, Germany, and the United Kingdom, encompassing 34.2 million rentable square feet.

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TAGS: Investment