Want to buy a skyscraper? Dallas has plenty for sale

A big chunk of the Dallas skyline is for sale.

Six towers — including the city’s tallest, Bank of America Plaza — are being offered to investors willing to make a bet on Dallas.

Sellers are hoping to catch the eye of buyers with recent good news about Dallas’ downtown.

“If you look at the leasing activity in the central business district in the last 24 months vs. the previous decade, there is no argument that a paradigm shift is occurring,” said Chad Cook, CEO of Dallas-based investor Quadrant Investment Properties. “The mojo has been incredible the last 12 months in particular.”

Quadrant recently put its 22-story Saint Paul Place office tower on Ross Avenue on the sale block. The property firm remodeled the 36-year-old high-rise and wants to cash in on the investment.

Cook said major investors see the upside in downtown Dallas real estate. “You would be hard-pressed to find another central business district in the country that offers this kind of opportunity,” he said.

Cook would say that, of course, since he’s trying to sell his building.

But other property owners downtown have the same idea.

More buildings have come to the market in just the past few months. It’s the largest number of Dallas skyscrapers to hit the market at once in decades.

Steve Brown, Real Estate Editor

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