Premier Downtown Dallas Land Sold
30 Nov, 2010, Dallas
Cushman & Wakefield of Texas, Inc. (C&W) announces the sale of one of the premier undeveloped sites in Dallas' Central Business District (CBD). Mike Gosslee, senior director, and Bob Edge, vice chairman, from C&W represented the seller, a major insurance company. TerraPark Group was the buyer and was represented in the transaction by John Bradley of Bradley & Bradley REALTORS, Inc.
"The property was never formally listed for sale," said Mr. Gosslee. "But our client was pleased with the offer and the purchaser recognized that this large site is the premier location in downtown Dallas and is well suited for a quality development in the future."
Located in the 2000 block of Ross Avenue, the 2.21 acres is bound by Ross Avenue and San Jacinto Street to the north and south, respectively, and N. Olive Street and N. Harwood Street to the east and west, respectively. A small portion on the northeast corner of the city block, the current location for a branch of Northern Trust Bank, was not included in the sale.
The property, site of an existing Central Parking lot, is in a high profile sector of downtown Dallas adjacent to major office buildings including Trammell Crow Center and 2100 Ross, and is one of the largest remaining land sites in the CBD. In addition, the parcel is contiguous to the city's flourishing Arts District and near Woodall Rogers Park, a 5.2-acre public park currently under construction over Woodall Rogers Freeway on the north edge of downtown Dallas.