Caterpillar has expanded its operations in Irving, Texas, with the purchase of an office building that once served as the headquarters for jewelry retailer Zales. The property, located at 901 West Walnut Hill Lane, is approximately three miles from Caterpillar’s current base at Williams Square.
The site will provide additional workspace and serve as a location for hosting dealers, customers, and visitors. The financial terms of the sale were not disclosed. However, records from the Dallas Central Appraisal District value the 15-acre property at $51.5 million. This valuation may not reflect current market prices due to potential delays in tax assessments.
The previous owner, Vari—a Coppell-based office furniture company—sold the property after acquiring it in 2019. Originally constructed in 1982 for Zales’ headquarters, the complex consists of three office buildings totaling over 400,000 square feet and includes a four-level parking garage. At its height, nearly 3,000 employees worked on-site. Zales is now part of Signet Jewelers and is based in Akron, Ohio.
VariSpace describes the Las Colinas campus as “fully furnished turnkey office space” offering amenities such as a 7,000-square-foot cafe and coffee bar in the lobby, a conference and training center, Wi-Fi enabled park area, and a fitness center spanning 10,000 square feet. Recent tenants include MUFG Bank and the University of St. Augustine for Health Sciences.
Caterpillar moved its global headquarters from Deerfield, Illinois to the Dallas–Fort Worth area in 2022 and currently employs more than 800 people at Williams Square with about 6,600 employees across Texas. The company has had operations in Texas since the 1960s.
In addition to this latest acquisition, Caterpillar added roughly 50,000 square feet to its Williams Square offices last year.
According to recent reports Caterpillar relocated its global headquarters to Texas as part of efforts to expand within one of its key markets.
Caterpillar reported revenue of $64.8 billion in 2024 and is led by CEO Joseph “Joe” Creed. It ranks number 64 on Fortune’s list of largest U.S.-based companies.
