Commercial Real Estate Two 1980s office towers in Dallas Midtown area get makeovers

By Bill Hethcock – Staff Writer, Dallas Business Journal

The building at 5429 LBJ Freeway, shown, leases for $23-$24 per square foot plus electricity, and has about 75,000 square feet of contiguous space available. There is about 100,000 square feet of contiguous space at 5501 LBJ next door. Both have recently undergone major renovation.

Two office towers in the Dallas Midtown area have undergone a multimillion dollar overhaul and are poised to take on new tenants.

The Crossings office buildings at 5429 and 5501 LBJ Freeway were constructed in 1980 and 1986, and they total roughly 529,500 square feet.

The just-completed renovations include lobbies in both buildings, corridors, bathrooms, elevator cabs, new conference facilities, a tenant lounge, and a new cafe/deli operator, James Engels of Holt Lunsford told the Dallas Business Journal in an interview.

The Class A buildings, between Galleria Dallas and the old Valley View Mall site, are in the middle of one of Dallas’ emerging redevelopment neighborhoods.

“We’re all kind of waiting on something to unfold with Midtown Dallas,” Engels said. “We think we’ve got a great value option for tenants in the market that are looking for a walkable setting but don’t want to pay the freight of a Double Class A building.”

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