New York investor takes Las Colinas industrial complex

A New York investor has snapped up an Irving office and industrial complex.

The property at 5931 Campus Drive West in Las Colinas was built in 1982 and has more than 200,000 square feet of space.

Tenants in the building include event firm Expo Group.

The building was sold by an affiliated of California-based LBA Realty to a company represented by New York-based investor KKR & Co.

Terms of the sale were not disclosed.

The sale by the LBA Realty affiliate comes after the company’s recent purchase of the huge Whirlpool appliance shipping hub on Interstate 45 in Wilmer.

In 2018, LBA Realty also bought two warehouses north of DFW Airport.

The Dallas-Fort Worth area is one of the country’s top industrial and warehouse markets, with more than 28 million square feet under construction.

Net warehouse leasing in the area in 2019 topped 30 million square feet.