DALLAS - The 850,000-sf KPMG Center at 717 Harwood has been sold in downtown. World Class Capital Group purchased the 34-story building, which has been controlled by lenders since 2012. The real estate firm plans to renovate the building.
Built in the 1980s and originally the headquarters of oil firm Diamond Shamrock, KPMG Centre is located just a block from downtown Dallas’ Arts District and commuter rail stations.
The new owner is in negotiations with a California firm — Omnitracs LLC — to lease a large block of space in the property, real estate brokers say. Several of the largest businesses in the KPMG Centre — including lead tenant KPMG and Lockton Cos. — have signed leases in other buildings and are moving.
The skyscraper purchase is the latest in a string of high-profile property trades in the central business district.
One Main Place, Thanksgiving Tower and Comerica Bank Tower have all changed hands in the last year as investors rush to acquire undervalued office properties in the midst of a rising downtown office market.
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