posted on May 14, 2010 01:19
Commercial real estate firm Colliers International has listed the now-vacant Elm Place tower in downtown Dallas for sale at a price of $19 million.
The 52-story, 1.3 million-square-foot tower at 1401 Elm was vacated earlier this year after occupancy dropped so low that the building's owners decided it was too costly to operate.
The tower was the 19th largest multi-tenant office building in the Dallas-Fort Worth area, according to DBJ research.
Now Colliers is marketing it as "ideally suited for residential conversion," meaning they're pitching it as a possible condominium or apartment project, according to a news release the company sent out Wednesday afternoon.
The building was designed by renowned architects George L. Dahl and Tom Stanley as Dallas’ tallest building in 1965 for the First National Bank of Dallas, according to the release.
David Glasscock and Marisa Schroeder of Colliers International are listing the property.
May 5th, 2010 | Bill Hethcock | Dallas Business Journal