Mandalay Towers Office Complex in Las Colinas Hits Market

The three-building Mandalay Towers office complex in Las Colinas, within Irving, is up for sale, owner Parmenter Realty Partners said. The property spans from 220 East Las Colinas Boulevard to 225 East John Carpenter Freeway. The buildings along the Mandalay Canal Walk total about 800,000 square feet and are 82 percent leased after a recent surge that brought 160,000 square feet of leasing activity. Tenants include AmeriCredit GM Financial and Trend AI, each holding leases exceeding 100,000 square feet, with an average remaining weighted lease term of 5.5 years. The Dallas Central Appraisal District values the property at $41.5 million for tax purposes. The Las Colinas Urban Center recorded nearly 850,000 square feet of net absorption over the past two years, according to Cushman & Wakefield's Matt Murphy, who disclosed the listing in a LinkedIn post and declined to provide further details.