$21.4 Million Non-Performing Office Loan | Dallas, TX
Dallas, TX, US, Americas
21,428 m²
Asset Description
JLL Capital Markets, is pleased to present investors the opportunity to acquire a condominium interest in One Main Place, encompassing 652,560 square feet of office space, with potential to redevelop in the heart of Downtown Dallas.
One Main Place presents a compelling value-add investment opportunity, with the 22 stories of office and retail space currently 36% occupied. Investors have the opportunity to convert up to ten office floors, ~234,000 SF, to residential which would immediately increase the condensed office occupancy to 63%. The Property is broken up between two condominium interests, the office floors and Westin Hotel. The Westin Hotel is not a part of the offering.
One Main Place presents the opportunity to acquire a historic Dallas skyline tower with significant upside and optionality. The office condominium interest is offered for sale free and clear as a leasehold acquisition.
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Attributes
Building area net
60,625 m²
Occupancy
36%
Year built
1968
Year renovated
2015
Land area net
0.98 ha
Media
Investment Highlights
- REDEVELOPMENT OPPORTUNITIES
- SUBSTANTIAL UPSIDE
- FRACTION OF REPLACEMENT COST
- DYNAMIC URBAN, MIXED-USE LOCATION
- IN THE CENTER OF DOWNTOWN'S REVITALIZATION
- AVAILABILITY OF HISTORIC TAX CREDITS FOR RENOVATIONS AND CAPITAL IMPROVEMENTS
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One Main Place Office (0 Properties)
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Last updated
20 Jun 2024
