Wednesday, July 10, 2013

Statler Hilton, Dallas Central Library Back on Market

One of Dallas' most prominent historic properties -- the Statler Hilton Dallas and the Dallas Central Library -- are back on the market after a deal fell apart with developer Jack Matthews.
"The deal did fall through and we are starting the marketing process," Lew Wood, executive vice president of Henry S. Miller Brokerage's multifamily division, told the Dallas Business Journal. "We're looking for some progressive international companies with deep pockets to acquire and develop the property."
The Statler Hilton Hotel building is now illuminated by blue lights. The properties totaling about 721,000 square feet are expected to take more than $100 million to acquire and redevelop. Previous design plans on the property included a hotel concept with apartments on the upper floors.
The 1950s-era Statler Hilton Hotel was once a luxurious 1,001-room hotel attracting stars such as Tony BennettFrank Sinatra and Elvis Presley.
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Staff Writer-Dallas Business Journal