Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
Friday, January 15, 2016
Investment partnership closes on Ross Tower in downtown Dallas
Ross Tower has undergone some renovations in recent years.
Dallas-based Bandera Ventures, in partnership with Vancouver-based real estate investment firm Second City Real Estate and Austin-based HPI Real Estate, has acquired Ross Tower in downtown Dallas.
The tower's previous ownership had upped the parking ratio to a guaranteed three parking spaces per 1,000 square feet of office space. That gives Ross Tower the ability to compete with buildings in the suburbs, Crawford said.
"They plan to re-position the property and get a bit more competitive using their parking to compete with the suburban product," Crawford said. "They plan to spend a few million dollars to make changes and they are committed to the property."
Crawford, who knows Bandera Ventures founders Pryor Blackwell and Chuck Anderson, said he expects the team to do a good job in updating the building and bringing new tenants to downtown Dallas.