Comerica Tower Owners Catch Conversion Bug
Woods Capital has thrown in with the owners of Comerica Bank Tower. A Woods Capital affiliate, Pacific Elm Properties, will work with the current owner of the tower, TriGate Capital to convert vacant offices into residential units and hotel rooms.
The 60-story Comerica Bank Tower contains 1.5 million square feet of office space.
Woods’ projects are no stranger to the Dallas skyline. Santander Tower, Bryan Tower, One Dallas Center, 2100 Ross and One AT&T Plaza are all Woods properties. The developer has already started converting large sections of the Santander Tower and Bryan Tower from office to residential space.
Pacific Elm Properties was formed by Woods Capital in 2021. Pacific Elm’s existing portfolio is comprised of six class A towers totaling 6.2 million square feet and nine acres of developable land located in Uptown and Downtown Dallas. Pacific Elm’s mixed-use development pipeline exceeds 5.1 million square feet including 1.2 million square feet of active development.
- ◦Development