Cawley Partners purchased Harwood No. 1, located at 2651 N. Harwood St., from First United Bank. The roughly 106,000-square-foot, seven-story tower was developed in 1982 by Harwood International Inc. The tower is currently 50% leased, with tenants including Cadence Bank, Huron Consulting Group Inc., and Unifeye Vision Partners. 

The Dallas Business Journal reports that First United Bank was a lender on the historic property and regained ownership through a November foreclosure auction with a winning bid of $27.2 million.

The new owner plans to give Harwood 1 a makeover. Plans call for updating the lobby, corridors, restrooms and top-floor lounge spaces. Cawley also plans to build out 50,000 square feet in spec suites. 

Cawley Partners is known for developing office properties primarily in the suburbs, particularly along the Dallas North Tollway in areas like Plano and Frisco.