First United JV Buys Advancial Tower for HQ

A joint venture consisting of First United Bank and Woodbine Development snagged the 147,000-square-foot Advancial Tower in Dallas’ Uptown submarket. The building, which delivered in the mid-1980s, will be upgraded to serve as the Dallas headquarters for First United, which is based in Oklahoma.

The partners acquired the 17-story building at 1845 Woodall Rodgers Fwy. from a real estate partnership headed by local restauranteur and investor Mike Karnes. Current tenants include Advancial Federal Credit Union, Omniplan and Firebird Restaurant Group.

The new owners plan to rehab the building to include collaborative workspaces, a coffee-and-learning lounge and a community room that will be available to the public. Also on tap will be valet and executive car services, and a tenant concierge. Thirty-Four Commercial has been retained to market the building to potential office tenants.

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