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Nearly eight years after purchasing the Irving office building once known as CVS Health Tower and making nearly $800K worth of interior renovations, Piedmont Office Realty Trust has sold the property for less than half of its purchase price to a well-known buyer of troubled offices. 

Piedmont acquired the 12-story, nearly 315K SF office building at 750 W. John Carpenter Freeway in 2016 from Columbia Property Trust for $49.6M, according to Commercial Property Executive. Over its eight years of ownership, the company made extensive upgrades, including $150K in renovations to the building’s lobby in 2017 and a $617K interior remodel and office space expansion in late 2022, according to permits filed with the Texas Department of Licensing and Regulation.