Bradford Buys Dated Dallas Office Asset, Planning $10M Makeover

Bradford Cos picked up a dated Uptown Dallas office building built in 1982 and not renovated since 1994. The 254,000-square-foot building at 4144 N Central Expressway was 50% leased. The previous owners, Pillarstone Capital REIT and Whitestone REIT, had filed for bankruptcy to avoid foreclosure. Weitzman represented the seller.

The Dallas Business Journal reports that Pillarstone had previously been the general partner and Whitestone REIT was a limited partner. The two Houston-based firms bought the building in 2013.

The new owners are planning a multi-million dollar revamping of the property. Bradford plans to renovate the tower with an updated lobby that will feature a golf stimulator and coffee kiosk, new restrooms on each floor, a brand new fitness center and flexible coworking suites. About $10 million has been set aside for renovations and another $10 million has been set aside for new tenant improvements once companies sign leases.