A downtown Dallas landmark has hit the market.
The 30-story One Dallas Center Tower on Bryan and St. Paul Streets was designed by architects IM Pei & Partners and opened as an office building in 1979.
From 2012, Dallas developer Todd Interests converted the largely vacant tower into a combination of offices and apartments.
Dallas’ HKS designed the award-winning Redo.
The top 16 floors of the high-rise house 276 deluxe apartments.
These posh rental units have been owned by a New England state pension investor, represented by JP Morgan Chase, since 2015.
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Now, commercial real estate company Jones Lang LaSalle has been hired to sell the top of the One Dallas Center Tower.
The rental community includes a club room on the 30th floor and a sky lounge, fitness center and swimming pool on the ground floor.
Rents in the building averaged over $ 2,100 a month.
“The geometrically designed IM PEI building offers a clear view of the skyline and is offered at a considerable discount on replacement costs,” says JLL in his marketing pitch.
The lower floors of the tower, which house offices, are separately owned and not part of the sale.
The One Dallas Center is the latest in a series of luxury Dallas high-rises to recently hit the market.
The 31-story Christopher rental building – part of the Union high-rise complex on Field Street next to Victory Park – has just been sold to Dallas-based L&B Realty Advisors.
A Florida investor acquired the 21-story Mondrian high-rise apartment building in the Cityplace project in July, and a California investor acquired the 21-story Gables Uptown Tower on McKinney Avenue.
For the first half of 2020, the Dallas-Fort Worth area was the nation’s leader in residential real estate investments.
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The 276-unit luxury rental at One Dallas Center includes a swimming pool on the ground floor.(JLL)
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