AT&T’s iconic headquarters building has been sold. Whitacre Tower, also called One AT&T Plaza, has been snapped up by two Dallas investors: Dundon Capital Partners and Woods Capital. The 37-story tower is fully leased to the tech giant until 2030, and the building’s sale will not impact AT&T’s lease.
AT&T moved into the building in 2008 and in 2016 announced a $100 million repositioning of its downtown campus into a so-called Discovery District. The renovation includes adding about 40,000 square feet of retail and restaurant space and several pedestrian-oriented amenities.
Terms of the deal were not disclosed, but the purchase was expected to fetch upwards of $250 million. The Dallas County Appraisal District values the building at about $49 million. This sale is likely the largest office trade in DFW so far this year and comes on the heels of Cityplace Tower’s sale earlier in August.
CBRE’s Michael Monahan, Gary Carr, Evan Stone, John Alvarado, Eric Mackey, Robert Hill, and Jared Chua represented the seller, New York-based Icahn Enterprises, an affiliate of billionaire Carl Icahn.