DALLAS – Bandera Ventures, Second City Real Estate and HPI Real Estate have acquired Ross Tower, a 1.1 million-sf office tower downtown. The 45-story building is at 500 S. Akard St.
The tower's previous ownership had upped the parking ratio to a guaranteed three parking spaces per 1,000 sf of office space. That gives Ross Tower the ability to compete with buildings in the suburbs, said Downtown Dallas Inc. CEO John Crawford.
The Dallas Central Appraisal District puts Ross Tower's value at more than $73 million.
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