The Bryan Tower in downtown Dallas is the next iconic skyscraper in-game

A third Dallas skyscraper is at stake, signaling the biggest increase in downtown activity since the start of the pandemic.

The Bryan Tower has been in the hands of lenders since this summer.

The 40-story office tower on the northeast side of downtown was built in 1973 and was one of the first modern reflective glass towers built in Dallas.

The 1.1 million square foot skyscraper was only about 35% occupied earlier this year when lenders with $ 70 million in debt declared the loan in default and decided to foreclose on the property .

Dallas-based Woods Capital is in the process of negotiating the acquisition of the Bryan Street Tower.

Woods Capital has already purchased the half-acre parking lot next to the building, company officials confirm.

Woods Capital has redeveloped the downtown 50-story Thanksgiving Tower – now the Santander Tower – on Elm Street. And the company has other key investments in the central business district.

The pending sale of the Bryan Tower is just the latest major downtown construction going on.

California investor Regent Properties is in talks to purchase the historic Trammell Crow Center office tower on Ross Avenue. The 50-story building just underwent a $ 135 million redevelopment.

And Dallas’ Todd Interests is planning a redevelopment of the 49-story Energy Plaza on Bryan Street. The project would transform the office tower into a combination of office and apartment space.

Investing activity in office buildings in North Texas has increased in recent months after the pause in building acquisitions last year after the start of the pandemic.

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