Uptown Tower, a 12-story high-rise on North Central Expressway north of downtown Dallas, is being pitched as a potential residential redevelopment site.
is a 12-story high-rise on North Central Expressway north of downtown Dallas. The 253,561-square-foot building – previously known as Amberton Tower – was built in 1982 and is more than 80% leased.The Houston-based owner defaulted on $14 million in debt after loans on the building came due last month. Lenders haveDallas Design District campus becomes latest sale in the area near downtown
The Oak Lawn Design Plaza at 1444 Oak Lawn Avenue in Dallas' Design District has sold to Asana Partners.Dallas property firm Constellation Real Estate Partners plans to break ground early next year on a four-building Southlake industrial park. Institutional Property Advisors is marketing the office building as an “apartment development site.” The almost three-acre property has a “highly visible location with frontage on Central Expressway and immediate access to Uptown and downtown,” according to the marketing pitch.Broker Drew Kile said the tower is a prime redevelopment candidate. The building has a more than 700-car parking garage and a full-height interior atrium.
“We also believe it is a great opportunity for residential redevelopment,” Kile said in an email. “You could repurpose the existing building, or you could actually knock it down and rebuild a purpose-built multifamily project without having to spend the money on a garage.”Dallas’ Uptown Tower is being pitched as prime for apartment conversion
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