Wednesday, April 29, 2015
Dallas’ landmark Meadows Building is up for grabs
A Dallas landmark has just hit the market.
The 60-year-old Meadows Building on North Central Expressway is one of the city’s iconic properties.
Built by oilman Algur Meadows, the building was the talk of the town in 1955 when the “skyscraper” opened its doors overlooking Dallas’ new superhighway.
For years the tower served as the northern gateway to the city and was the tallest structure between downtown Dallas and the Oklahoma border.
The 9-story office building at North Central and Milton Street was one of Dallas’ first suburban office towers and set the tone for other freeway real estate developments.
The building still looks pretty much as it did in the middle of the last century.
Each side of the Meadows Building is different – facades constructed of pink marble, red brick and blue terra cotta tile. The green marble lobby has bubble light fixtures in the ceiling.
Designed by Dallas architect J.N. MacCammon, the building cost $4 million to construct. The building also held a cafeteria and the exclusive Texas Club for building tenants and other members.
It once boasted “the largest hanging garden in the world,” according to news reports.
The familiar script roof sign and landscaped plaza on the south side give the Meadows Building the property the flavor of a classic Miami Beach hotel.
Now the California investor that has owned the property since 2003 has decided to sell the historic high-rise.
Cushman & Wakefield has been hired to peddle this one-of-a-kind property.
“Built in an era when smoking was good for you and a martini at lunch was common, The Meadows Building has remained a preferred location for area office tenants for 60 years,” Cushman & Wakefield says in a promotion for the building.
About 120 tenants occupy the 167,000-square-foot Meadows Building. It’s more than 90 percent leased.
With its location next door to DART’s Lovers Lane commuter rail station, the building is in a prime spot for redevelopment. It’s the perfect size for small office tenants or for conversion into a boutique hotel and retail project.
The three-building Energy Square office tower complex next door is also for sale and being marketed by HFF as a separate purchase.