The investor that acquired the key property recently purchased adjoining sites.
A building on a busy Uptown Dallas corner has changed hands.
The sale of the 8,400-square-foot building at Cedar Springs Road and Fairmount Street follows recent purchases of adjoining properties by a Plano-based investor.
Dating to the 1960s, the building once housed Dallas’ Bifano Furs. More recently it was used for art galleries and various offices.
Now the property has been sold to Selene Capital Development, county records show. Selene Capital acquired two adjoining buildings in May — homes that have been converted for business use.
The latest purchase gives the investor more than an acre of property along Fairmount.
Selene Capital Development represents a Plano family investment trust, according to state filings.
Zach Stevens and Jeremy Brubaker of NAI Robert Lynn brokered the sale.
The previous owner of the just-sold corner had planned to build a 13-story tower before the pandemic hit. The proposed high-rise was to include about 129,000 square feet of office space, a restaurant, event space and a residential unit on the top floor, according to plans presented to the Oak Lawn Committee.
The site that just sold is surrounded by major new high-rise developments.
Developer Alamo Manhattan is working on plans for a 25-story, 268-unit apartment tower at Fairmount and Carlisle Street.
Just across Cedar Springs Road developer Lincoln Property Commercial is seeking approvals to build three new towers with offices and residences.
And around the corner of Maple Avenue, construction just started on 23Springs, a 26-story office tower being built by Granite Properties. Also on Maple, Crescent Real Estate is ready to begin work on a 30-story residential tower.