Fortis Property Group Buys Chase Tower
Fortis Property Group purchased Chase Tower in Downtown Dallas from Hines, right on the heels of Hines' sale of One Victory Park. Last month, Hines unanimously voted to liquidate and dissolve Hines REIT, one of three public REITs sponsored by Hines, including Chase Tower.
The iconic 55-story, 1.3M SF tower at 2200 Ross Ave was designed by Richard Keating in 1987 during his time at Skidmore, Owings & Merrill. The tower sits on a 1.5-acre plaza at the helm of the Arts District and is easily identifiable by the sky window. The trophy property recently underwent extensive renovations.
Fortis will further reposition the property by updating curb appeal, building accessibility and food service amenities. Fortis CEO Jonathan Landau credits the building's location and iconic outline as reasons to buy.
Stream managing director J.J. Leonard and EVP Matthew Wieser will lead leasing efforts.
Current building amenities include the Dallas Petroleum Club, a fitness center, a concierge, a Chase retail banking facility and ATM, a Starbucks, free WiFi in the Mezzanine, 24-hour security and a full-service car wash.