Construction equipment company Caterpillar has purchased an office complex in Irving, Texas, previously used as the headquarters for jewelry retailer Zales. The property is located at 901 West Walnut Hill Lane, about three miles from Caterpillar’s current base at Williams Square.
According to The Dallas Morning News, the new site will offer extra workspace and serve as a venue for meetings with dealers, customers, and visitors. While financial terms of the deal were not released, records from the Dallas Central Appraisal District show the 15-acre property is valued at $51.5 million. However, these tax valuations may not reflect current market prices.
The office complex was sold by Coppell-based Vari, which had acquired it in 2019. Originally constructed in 1982 for Zales’ headquarters, the site consists of three office buildings totaling over 400,000 square feet and includes a four-level parking garage. At its busiest period under Zales’ ownership, nearly 3,000 employees worked there. Zales is now part of Signet Jewelers and operates out of Akron, Ohio.
VariSpace describes the Las Colinas property as “fully furnished turnkey office space” featuring amenities such as a 7,000-square-foot cafe and coffee bar in the lobby, conference and training facilities, a Wi-Fi enabled park area and a fitness center spanning 10,000 square feet. Recent tenants include MUFG Bank with a lease renewal and the University of St. Augustine for Health Sciences.
Caterpillar moved its global headquarters from Deerfield, Illinois to the Dallas–Fort Worth region in 2022. The company currently employs more than 800 people at Williams Square and around 6,600 across Texas.
In recent years Caterpillar expanded its presence at Williams Square by adding approximately 50,000 square feet of space.
Caterpillar reported $64.8 billion in revenue in 2024 and is recognized as the world’s largest manufacturer of construction and mining equipment as well as off-highway diesel engines and other industrial machinery. Led by CEO Joseph “Joe” Creed, Caterpillar holds position number 64 on the Fortune 500 list.
