Caterpillar has snapped up the former Zale Corp. office campus at 901 W. Walnut Hill Lane in Irving, marking a fresh expansion of its Dallas-Fort Worth footprint just a few years after shifting its global headquarters to North Texas. The property sits roughly three miles from the company's Williams Square offices in Las Colinas and is expected to give Caterpillar more room to host dealers, customers and visiting partners.
The company announced the acquisition Friday in a news release, saying the Las Colinas building will "provide more workspace and a place to host dealers, customers and visitors," according to Caterpillar. The release did not disclose financial terms for the purchase or a timetable for renovations and moves into the campus.
Dallas Central Appraisal District records show the roughly 15-acre site had been operated as Varispace Las Colinas LLC. The campus includes just over 300,000 square feet of leasable office space, a 424,000-square-foot parking garage and a tax valuation of $51.5 million, according to The Dallas Morning News.
Site History and Prior Owner
The campus originally served as the headquarters for Zale Corp., and Coppell-based Varidesk bought and repositioned the property in 2019 as Varispace Las Colinas, according to Fort Worth Business Press. Varidesk's overhaul leaned into flexible workspaces and event-ready amenities as a way to lure tenants looking for something more polished than a basic suburban office box.
Why Irving and Williams Square
Caterpillar relocated its global headquarters from Deerfield, Illinois, to Irving in 2022 as part of a broader strategic shift, per a company announcement covered by PR Newswire. The company reported $64.8 billion in sales and revenue for 2024, underscoring the scale behind its North Texas expansion, according to Caterpillar.
Next Steps and Local Impact
Caterpillar has not disclosed the purchase price or the timeline for rehabbing the site, and company representatives did not immediately respond to questions before publication, The Dallas Morning News reports. The acquisition adds a substantial block of office and event-ready space to Las Colinas that the company says can support customer-facing activities and dealer events.
For Irving and the wider D-FW office market, the sale is another sign that major corporate tenants are still reshaping suburban office parks with a mix of leased workspace and campus-style amenities. Caterpillar's latest move reinforces Las Colinas as a strategic hub for companies looking to bulk up their regional headquarters presence without straying far from the urban core.
