Secure Investment? Dallas High-rise Jail Hits Market as an Apartment Or Office Redo

If you've ever wanted to own a jail, commercial real estate firm CBRE has a deal for you.The 10-story Dawson State Jail on the banks of the Trinity River in downtown Dallas is up for grabs.Built in 1995, the 10-story lock up has been sitting empty for several years.It closed in 2013, and at one time housed more than 2,200 prisoners.Now the 238,000-square-foot brick high-rise at 106 W. Commerce St. is being offered for sale to creative developersCBRE brokers are pitching the former hoosegow for a potential redo.They say the building can be converted into an apartment high-rise, office space or even a self-storage facility.The former detention tower is located at the edge of the booming West Dallas district and has views of the Trinity River and downtown.It's right across the street from the Crowley Courts building and Lew Sterrett Justice Center.With few old downtown area buildings left for redevelopment, the empty calaboose could catch the eye of builders and investors.The old pokey is owned by the State of Texas and has a tax appraisal of more than $6 million.  Continue reading...