It took 50 years for Dallas businessman David Gibson to accumulate 17 buildings near Fair Park. And now, he’s sold them all, at once. The Dallas Morning News reports August Real Estate has bought the 17 buildings in the Exposition Park neighborhood near the main entrance to Fair Park, 400,000 square feet in all. The buildings are 97% leased to small businesses, artists, and residential tenants.
Before selling, Gibson converted many of the old commercial buildings into mixed-use properties. Some of the buildings are historic structures from the 1920s.
The new owners said they plan improvements for some of the properties. August Real Estate repurposed the landmark Continental Gin — built in 1888 — converting the historic cotton gin manufacturing plant into office and retail space. The firm also renovated the nearby former Trunk Club building at 333 First Ave. which has been leased as office space.
Southside Bank helped finance the purchase, and Adam Mengacci of Institutional Property Advisors sourced the debt
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.