{"id":74293,"date":"2025-07-19T02:56:13","date_gmt":"2025-07-19T02:56:13","guid":{"rendered":"https:\/\/www.europesays.com\/us\/74293\/"},"modified":"2025-07-19T02:56:13","modified_gmt":"2025-07-19T02:56:13","slug":"troubled-uptown-dallas-office-tower-lands-new-owner","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/74293\/","title":{"rendered":"Troubled Uptown Dallas office tower lands new owner"},"content":{"rendered":"

Dallas-based Bradford Cos. is the new owner of Uptown Tower, finally bringing a troubled chapter<\/a> in the building\u2019s history to a close. <\/p>\n

The deal closed late Thursday afternoon, said Weitzman president of institutional office investments Creighton Stark, who brokered the deal on behalf of the previous owner, Houston-based Whitestone Uptown Tower.<\/p>\n

Whitestone purchased the 4144 North Central Expressway property in 2013. It was built in 1982 and renovated in 1994.<\/p>\n

\u201cThe property faced capital markets challenges, as well as challenges from ownership,\u201d Stark said. \u201cThere was a tremendous amount of capital needed to put into maintenance to compete with neighboring properties. The property hadn\u2019t been improved in a long time \u2014 maybe never.\u201d <\/p>\n

D-FW Real Estate News<\/p>\n

Get the latest real estate news you need to know.<\/p>\n

In 2023, the 253,000-square-foot, 12-story tower was more than 80% leased, but Stark said a lack of common-area maintenance led to tenant attrition, bringing its occupancy down to around 52% and putting up barriers to effectively leasing up the property.<\/p>\n

Current tenants include Kastl Law, Androvett Legal Media, Dallas Counseling & Treatment Center and Trading Card World, with marketing materials noting large blocks and upper-floor space remain vacant for lease.<\/p>\n

Last year, a creditor sought to compel owners to sell the property<\/a> as it was in foreclosure. That December, Whitestone entered Chapter 11 bankruptcy protection. <\/p>\n

Related:12-story Dallas office tower faces loan default<\/a><\/p>\n

Stark said many legal hurdles had to be surmounted, but the sale itself was traditionally marketed. <\/p>\n

\u201cThat was about the only thing about the sale that was traditional,\u201d Stark said.<\/p>\n

The building was offered to potential buyers at a \u201csignificant discount to replacement cost,\u201d meaning the property was offered at a lower price than what it would cost to build a similar building from the ground up, including land, construction, permits and other fees.<\/p>\n

Stark said the property was sold at a discount because the owners \u201cweren\u2019t willing to spend the money it needed to be habitable.\u201d<\/p>\n

While the final value of the sale was not disclosed, $26 million had been suggested as the minimum bid in 2024. <\/p>\n

Dallas Central Appraisal District currently values the property at $22 million.<\/p>\n

Stark said Bradford Cos., which did not immediately respond to a request for comment, planned to reposition it to compete with similar Uptown properties. That includes renovating common areas, including the lobby. <\/p>\n

\u201cWe wanted a responsible, vertically integrated buyer who would be able to take care of the building,\u201d Stark said. <\/p>\n

Some of the expenses noted in bringing the building up to snuff include around $2 million for new air conditioning, as well as other structural improvements. <\/p>\n

Ultimately, seven offers were fielded with Bradford\u2019s being the most competitive. <\/p>\n","protected":false},"excerpt":{"rendered":"Dallas-based Bradford Cos. is the new owner of Uptown Tower, finally bringing a troubled chapter in the building\u2019s…\n","protected":false},"author":3,"featured_media":74294,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5135],"tags":[5229,347,12611,1596,4329,358,3187,67,586,132,5230,20239,68,2969],"class_list":{"0":"post-74293","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dallas","8":"tag-america","9":"tag-article","10":"tag-commercial-real-estate","11":"tag-dallas","12":"tag-real-estate","13":"tag-texas","14":"tag-tx","15":"tag-united-states","16":"tag-united-states-of-america","17":"tag-unitedstates","18":"tag-unitedstatesofamerica","19":"tag-uptown-dallas","20":"tag-us","21":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114877653801436937","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/74293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=74293"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/74293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/74294"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=74293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=74293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=74293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}