When a group of investment partners closed on one of downtown Dallas’ skyscrapers about 18 months ago, they knew the building needed a massive transformation.
The 45-story, 1.1 million-square-foot office tower at 500 S. Akard St. was only 50 percent filled with tenants, and there were some key vacancies, including a 7,000-square-foot retail banking space anchoring the high-rise office tower, that needed to be filled.
That led Bandera Ventures, in a partnership with Vancouver-based real estate firm Second City Real Estate and Austin-based HPI, to spend nearly $20 million upgrading the building’s curbside appeal, modernizing all of the elevators and bringing in two new chillers, said Chuck Anderson, founder of Bandera Ventures.
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