Thanksgiving Tower

50-Story Dallas High-Rise Sold, Rennovations Planned

Thanksgiving Tower has been sold to a partnership led by Dallas based Woods Capital Management, LLC. Located at the heart of Dallas’ revitalized central business district, Thanksgiving Tower is a 50-story building with nearly 1.4 million square feet and 745 on-site parking spaces. At its completion in 1982, it was the second tallest building in Dallas. It is currently the 8th-tallest building in the city. CBRE Group has been marketing the high-rise since it was foreclosed on in February by Berkadia Commercial Mortgage. John Alvarado, Gary Carr and Eric Mackey of CBRE arranged the transaction on behalf of Berkadia.

Forest City and AIG Partner on “3700M” High-Rise Apartment Project in Dallas

Forest City Enterprises, Inc. has closed a strategic capital partnership with AIG Global Real Estate for the development of 3700M, a 381-unit apartment project in the West Village neighborhood of Dallas. Forest City and AIG will share ownership and fund the equity requirements for the project, which began construction in December 2012 and is expected to be completed in the third quarter of 2014. "We are very pleased to partner with AIG on this great project," said David J. LaRue , Forest City president and chief executive officer. "As we continue to see demand for new multifamily product in our core markets, we are teaming with equity partners, such as AIG, to invest with us in new projects.
Renaissance Tower

Energy Company Moves to Renaissance Tower, Home of Ewing Oil in TV Show Dallas

This week Clearview Energy is relocating its headquarters to the Renaissance Tower at 1201 Elm St. in downtown Dallas. The growing energy company, which Inc. Magazine ranked the #1 fastest growing company in Dallas last year, saw a need for more office space as it expands its services to new deregulated markets. Renaissance TowerThis 56-story high-rise offers a more open and team-oriented office space, allowing for better communication among employees and better customer service to customers. The larger office space will also help the company collaborate for product development and new business opportunities in the communities they serve.
816 Congress Austin

Austin High-Rise Office Building Sold for $103.5 Million

Atlanta-based Cousins Properties Inc. has agreed to acquire the 20-story high-rise office building at 816 Congress in Austin, TX from Thomas Properites. The gross purchase price for the 434,000 square foot Class A office property is reportedly $103.5 million. After credits for outstanding tenant improvements, lease commissions and rent abatements the net purchase price is $101.5 million. 816 Congress was built in 1984 and features a native granite exterior and a plaza entrance that leads to rich lobby finishes of granite, limestone and marble. It was renovated in 1994 and is 78 percent leased.