Ross Tower, a 1.1 million-square-foot, 45-story tower at 500 North Akard Street, appears to be up for sale. 

Matt Murphy, the director of Cushman & Wakefield’s Texas office advisory group, said in a LinkedIn post that the tower is being marketed to investors. Ross Tower has recently undergone a modernization through a $14 million capital improvement program that upgraded the building’s elevator system, improved common areas and replaced the cooling tower, according to the post. 

The building is 60 percent occupied, according to Murphy, and features tenants like the Dallas Regional Chamber, CoStar, Munsch Hardt and Grant Thornton, according to the Dallas Morning News. The asking price wasn’t listed by Murphy in the LinkedIn post, and the outlet noted that the Dallas Central Appraisal District pegged the property at upwards of $99 million for tax purposes. 

Recent bets on Downtown Dallas properties cite their proximity to Uptown, where the city is seeing a flourishing financial district. A key enticement for prospective buyers looking to bolster the tenant roster, according to the post, is that the in place rents are 15 percent below market. 

In the post, Murphy said that the combination of lower rents for class A space, available square footage with companies exiting downtown, and the thriving Uptown Dallas area just a few blocks away, give the tower solid fundamentals for the right buyer. 

The tower is currently owned by a partnership that includes Bandera Ventures of Dallas, HPI Real Estate and Second City Real Estate. The joint venture purchased the tower in 2015, and it was renovated in 2018, according to the post. 

The tower was named Lincoln Plaza until 2013, and was formerly the headquarters of multinational oilfield products company Halliburton. Ross Tower is the 14th tallest building in the Dallas skyline. 

As Uptown’s Y’all Street continues to grow, building owners are beginning to look at cashing in on the influx of new companies as an option. Hillwood Urban is currently exploring a sale of Victory Commons One, who just signed Scotiabank as a new tenant. 

— Hunter Cooke

Read more

Trammell Crow Center gets boost from new, extended leases

Hillwood Urban explores sale, refinancing for Scotiabank’s future Y’all Street outpost

Bell Nunnally expands office lease at KPMG Plaza, shows Arts District resilience

DALLAS – After Norway won on Tuesday at Dallas Stadium, its star player has one more stop to make before heading out of town.

Erling Haaland and his teammates visited a Western wear store in the West End.

It’s already changing things for the store owner.

Y’all can kiss my Dallas

What we know:

Just hours after the Norway’s star striker helped his team advance in the World Cup, Haaland had one more goal in Texas – becoming a cowboy.

He and several of his teammates visited Wild Bill’s Western Store in Downtown Dallas.

The store’s owners Cody and Julie Newport told FOX 4 they got a heads-up about the special guest and had part of the floor roped off when Haaland walked in.

He ended up buying multiple hats. He traded cleats for cowboy boots and swapped his jersey for a shirt that says, “Y’all can kiss my Dallas.”

What they’re saying:

“Did he know anything about cowboy hats?” FOX 4’s Peyton Yager asked the store’s owners.

“No. He knew nothing,” Cody Newport said. “Actually, he was sitting in this chair. And we had someone fit him for a cowboy hat.”

Wild Bill’s owners said Haaland and his teammates gravitated to some of their beautiful exotics. 

Haaland also purchased a buckle with a longhorn for his belt and branded his initials and jersey number onto his purchases.

“He was saying this is literally the only time I have and the only time in Dallas,” Julie Newport recalled. “He had an amazing time, and we gave him that.”

“We exude the Dallas welcome, the southern hospitality. For him to want to come in and hang out is everything,” Cody Newport said.

Big picture view:

Haaland shared photos of his visit to Wild Bill’s on social media, earning millions of views and likes. 

That “Y’all can kiss my Dallas” shirt is nearly sold out in the store, with many of Haaland’s fans snagging gear of their own. And online sales are rolling in. 

The store expects a new shipment of the shirt on Thursday to replenish the racks.

The owners said that normally their customers are 90% tourists. But after Haaland’s post, they are starting to see customers come in from North Texas.