Downtown Dallas’ landmark Awalt Building sells to Denver real estate investor
One of the oldest commercial buildings in downtown Dallas has changed hands.
Located in the heart of the historic West End on Market Street and Pacific Avenue and built for BF Avery Plow Co. in 1905, the striking Awalt Building was sold to Denver-based commercial real estate company Koelbel and Co., County. sold records show.
The six-story brick and wood building served as the Awalt Co. furniture warehouse for decades before it finally got dark. The historic building stood empty for years before it was converted into office and retail space.
The Awalt Building has been owned by a subsidiary of Crescent Real Estate based in Fort Worth since 2016. The property was put up for sale at the end of last year.
Koelbel & Co. is an almost 70 year old real estate company with a success story in both commercial and residential projects. The Colorado investor also bought an adjacent parking lot at 211 N. Austin St.
The Awalt Building sale comes shortly after Crescent Real Estate sold two more parking spaces in the West End district to other investors.
Another building in the West End, the 98-year-old Oilwell Supply Building on Lamar Street, was sold to a Houston investor last month.