Dundon Capital Partners and Woods Capital has purchased One AT&T Plaza, the 966K SF global HQ of AT&T.
The 37-story Class-A office tower is in Downtown Dallas at 208 South Akard St. and is fully leased to the telecommunications giant.
AT&T moved into the building 10 years ago and has renovations underway across its campus. Through its $100M AT&T Discovery District program, it is working to transform four city blocks around the campus to be pedestrian-only with 40K SF of restaurant, retail and entertainment offerings. The renovations are set to complete late next year.
The activity around AT&T is mirrored in Atlanta — AT&T's building in Midtown Atlanta is also owned by Icahn Enterprises, founded by real estate billionaire Carl Icahn. The property is undergoing renovations and adding outdoor amenity space, and also is up for sale. It reportedly also found a buyer this month. The difference: AT&T is vacating that building, but is retaining its lease in Dallas through August 2030.
AT&T has been consolidating its office space as part of a merger with Time Warner, which has dragged on. Its continued commitment to Dallas has helped spur data center activity in the area.
CBRE's Michael Monahan, Gary Carr, Evan Stone, John Alvarado, Eric Mackey, Robert Hill and Jared Chua represented the seller, Icahn Enterprises, in the One AT&T Plaza sale.
“As the global headquarters for a world leader in communications, media and entertainment, and technology, One AT&T Plaza presented one of the most compelling investment opportunities on the market,” CBRE Vice Chairman Gary Carr said.
