Owners of Joule Buy Five Downtown Dallas Buildings

View Comments ()
|
Email
|
Print

    NEWSLETTERS

    Getty Images
    Between the Magnolia Hotel and Neiman Marcus on Commerce Street, you won't find a building owned by anyone other than 1600 Main Street Holdings, L.P. -- an affiliate of the Joule Hotel.

    Between the Magnolia Hotel and Neiman Marcus on Commerce Street, you won't find a building owned by anyone other than 1600 Main Street Holdings, L.P. -- an affiliate of the Joule Hotel.

    Friday Westmount Realty Company announced the sale of five downtown Dallas buildings surrounding the Joule (and Charlie Palmer Restaurant) including:

    • 1417-19 Commerce Street, a 11,450 square foot former restaurant built in 1932 and purchased by Westmount in 1997;
    • 1503 Commerce Street, an 8,400 square foot former restaurant acquired by Westmount in 1997;
    • 1505 Commerce Street, an office building built in 1900 and purchased by Westmount in 2005;
    • 1511 Commerce Street, a 15,000 square foot former retail/office built in 1928, now carrying a historical designation and acquired by Westmount in 1995; and
    • 1604 Main Street, a 47,724 square foot former retail/office built in 1914 and purchased by Westmount in 1996 from Neiman-Marcus.

    Westmount mentioned their previous hopes to redevelop these properties in their press release, but it seems like that 'ole Recession Thang got them down.

    No word yet on what the new owners will do with the buildings -- maybe this is a start of a new reality TV series called "Flip This Vacant Building."