The Belo Building, a 235,303-square foot Class A office tower and one of downtown Dallas’ iconic office properties, has been purchased from Gannett Company by a group of private local and international investors. Grant Pruitt and Maureen Kelly of Cushman & Wakefield of Texas, Inc. represented the buyers.
Located at 400 South Record Street just east of Union Station, the 17-story white granite and glass structure stands at one of the major entry points to Dallas’ Central Business District. The building, built in 1985, was the longtime home of the Belo Corporation, one of the oldest companies in Texas prior to its sale to Gannett in 2013.
“We are thrilled about the investment coming to an important area of Downtown, identified as a focus area in the Downtown Dallas 360 plan,” said John Crawford, President & CEO of Downtown Dallas, Inc. “Building from the momentum of the Convention Center and Omni Hotel, added to the connectivity to Union Station, the West End and ultimately Victory Park, this is a prime opportunity corridor.”
The purchase is also an example of why Dallas was recently ranked one of the Top 10 cities for global investment in “Winning in Growth Cities,” a Cushman & Wakefield research report.