P
illar Commercial has secured a recapitalization deal for Travelers Insurance's corporate hub in Richardson. The agreement will retire the debt on Collins Square, a 215,000-square-foot office building that has been anchored by Travelers since 2002. A new ownership group led by Pillar and including Hall Capital, H. Goldenberg, and Formation Interests acquired the property with cash for an undisclosed price.

    The four-story building sits on 13 acres at 1301 East Collins Boulevard and is 68 percent occupied. Originally built in 1985, it underwent renovations in 2022. The location offers easy access to major highways, including U.S. Route 75 and the President George Bush Turnpike, approximately 20 miles north of Dallas.

    Collins Square is situated within Richardson's Innovation Quarter (IQ), a 1,200-acre hub for businesses that includes offices for over 1,000 companies, such as Ericsson, Verizon, and Siemens. The IQ also hosts outposts of the University of Texas at Dallas focused on technology.

    Pillar Commercial has partnered with Hall Capital on other projects, including One Bethany North, a nine-story office building in development with the Allen Economic Development Corporation. They also own two other office properties in the area: One Bethany East and One Bethany West.