The 60-story Comerica Bank Tower in downtown Dallas has a new owner.
One of downtown’s largest real estate owners, Woods Capital, is taking a controlling stake in the skyscraper, according to The Dallas Morning News.
The building at 1717 Main St. was previously owned through a partnership led by Dallas-based TriGate Capital. It is currently the sixth-largest building in Texas and features over 1.5 million square feet of space. It was built in 1987. The terms of the deal were not disclosed.
Woods Capital, headquartered in Dallas, owns several other notable buildings that make up Dallas’ stunning skyline, including the Santander Tower, Bryan Tower, One Dallas Center, 2100 Ross, and One AT&T Plaza. Dallas’ skyline was named the best in the world by USA Today readers in 2014.
“I personally think it’s the nicest building in Texas — or the entire South and Southwest for that matter,” Woods CEO Jonas Woods said after the deal. “It’s an incredible, irreplaceable asset.”
The real estate investment firm is currently converting sections of the Santander Tower and Bryan Tower from office to residential space.
Comerica Tower has recently undergone renovations that have led to a boost in occupancy and plans to add hotel rooms and residences to the tower.
“By converting static office vacancy into luxury residential or hotel, we are able to add amenities and improve the quality and vibrancy within not only our properties but the entire neighborhood, which we believe will have a meaningful and lasting impact on office fundamentals in downtown Dallas,” Woods told the DMN.
The building’s namesake company has had its headquarters in the high-rise since 2007, but the bank has no financial interest in the property.
Several skyscrapers have changed hands downtown recently. The 50-story Trammell Crow Center was sold for $600 million in March, and the 49-story Energy Plaza was sold in 2021 to Todd Interests.
