Office building owners are no longer taking a wait-and-see approach when it comes to how to deal with higher vacancy rates caused by the Covid pandemic. They’ve seen enough. Dallas has seen a number of high profile cases of converting empty office space to apartments; the Santander and Bryan Tower to name a few.
Now, the owners of another office building in Dallas are converting half of the property into residential units.
The first four floors of an eight-story office tower located on 1600 Viceroy Dr. will be transformed into multifamily space. Roughy 180,000 square feet of space will be converted to include 120,000 square feet of residential space and 30,000 square feet of amenity space.
The first phase of the three-phase project will deliver 80 units, and the top floors of the tower will remain office space. Construction is scheduled to begin later this fall and the conversion is anticipated to be completed by late 2024.
The post Another Dallas Office-to-Apartment Conversion On Way appeared first on Connect CRE.
Office building owners are no longer taking a wait-and-see approach when it comes to how to deal with higher vacancy rates caused by the Covid pandemic. They’ve seen enough. Dallas has seen a number of high profile cases of converting empty office space to apartments; the Santander and Bryan Tower to name a few. Now, …
The post Another Dallas Office-to-Apartment Conversion On Way appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate