trending Market Intelligence /marketintelligence/en/news-insights/trending/UyzRznjMW0KwCHWHaQ4q7A2 content esgSubNav
In This List

Columbia Property exits Dallas, Phoenix markets with 2-property sale

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


Columbia Property exits Dallas, Phoenix markets with 2-property sale

Columbia Property Trust Inc. sold CVS Health Tower in Irving, Texas, and SanTan Corporate Center in Chandler, Ariz., for combined proceeds of $109.5 million.

The sale of the two class A office properties marks the company's exit from the Dallas and Phoenix markets. It brings the company's completed dispositions year-to-date to $660.5 million, in line with its 2016 noncore asset sales target of between $700 million and $1 billion.

The 315,000-square-foot, 12-story CVS Health Tower is mainly leased to CVS Caremark and IBM. Both buildings in the 267,000-square-foot SanTan Corporate Center are fully leased, with SanTan Corporate Center I entirely occupied by Toyota Financial Services, and SanTan Corporate Center II leased to Dialog Semiconductor and several other tenants.