Caterpillar has acquired an office building in Irving, Texas, expanding its footprint in the Dallas–Fort Worth area. The property was previously the headquarters for jewelry retailer Zales and is located about three miles from Caterpillar’s current base at Williams Square.
The new site will offer extra workspace and serve as a location to host dealers, customers, and visitors. While financial terms of the transaction were not made public, records from the Dallas Central Appraisal District list the 15-acre property at 901 West Walnut Hill Lane with a value of $51.5 million. Tax assessments often do not reflect up-to-date market prices.
Vari, an office furniture company based in Coppell, sold the property after acquiring it in 2019. Originally built in 1982 for Zales, now part of Signet Jewelers headquartered in Akron, Ohio, the campus consists of three office buildings totaling over 400,000 square feet and includes a four-level parking garage. At one point, nearly 3,000 employees worked on site.
According to VariSpace’s website, the Las Colinas complex offers “fully furnished turnkey office space” and features amenities such as a 7,000-square-foot cafe and coffee bar, conference and training facilities, a Wi-Fi enabled park, and a 10,000-square-foot fitness center. Recent tenants include MUFG Bank and the University of St. Augustine for Health Sciences.
Caterpillar moved its global headquarters from Deerfield, Illinois to North Texas in 2022. The company employs more than 800 people at Williams Square and approximately 6,600 across Texas. Caterpillar has operated in Texas since the 1960s.
In addition to this latest acquisition, Caterpillar added around 50,000 square feet to its Williams Square offices last year.
Caterpillar reported revenue of $64.8 billion in 2024 and is led by CEO Joseph “Joe” Creed. The firm ranks number 64 on the Fortune 500 list of largest U.S. companies.
