Consumer finance company Cottonwood Financial Administrative Services has leased a large office block from Irving.
The company occupies nearly 40,000 square feet at 2120 W. Walnut Hill Lane in Las Colinas.
The new space is in the three-building Cottonwood Office Center, which once housed the offices of Liberty Mutual Insurance.
The lease is the second recent transaction in the office campus. Medpace Inc., a clinical research organization, took over 47,000 square feet in buildings.
“Coming out of the pandemic, we continue to see large employers targeting properties that can offer plug-and-play solutions at a price advantage relative to the surrounding market,” said John Dickenson, Managing Director of Holt Lunsford Commercial, in a press release. .
Owners of the 165,000 square foot office campus are renovating the property with a new amenities center, conference room and fitness center.
Dickenson, Geoff Shelton and Marshall Mays of Holt Lunsford Commercial negotiated the new lease with Kevin McGovern of Younger Partners.
The Cottonwood Office Center leases are among the largest recent real estate transactions in Irving.
During the first quarter, net office rental in the Las Colinas area fell by more than 350,000 square feet.