May 17, 2016
Unknown buyer for 450,000-SF KPMG Plaza at Hall Arts in Dallas
DALLAS - Developer Craig Hall's development firm no longer owns the newly completed KPMG Plaza at Hall Arts, 2323 Ross Ave., after quietly selling to an investor.Ever since the 18-story, 450,000-sf office...
DALLAS – Developer Craig Hall’s development firm no longer owns the newly completed KPMG Plaza at Hall Arts, 2323 Ross Ave., after quietly selling to an investor.
Ever since the 18-story, 450,000-sf office tower was completed in 2015, Hall has been eyeing the next phase of Hall Arts and this deal would give him enough cash to move ahead on a luxury high-rise and boutique hotel.
Real estate sources estimate the deal closed at $500 per sf, or roughly $225 million.
By selling off KPMG Plaza, Hall will be able to begin the second phase of Hall Arts, a luxury condo and boutique hotel tower.
The 11-story, 231-room boutique hotel will sit over two levels of public space and will include enough real estate to house restaurants and a 7,000-sf meeting space.
The 44-unit condo portion of the tower, called the Hall Arts Residences, will stretch from the 12th to the 25th floor of the tower.
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