Prime Downtown Dallas development site up for sale
JLL Capital Markets selected to market for sale the .096-acre T. Boone Pickens YMCA site
DALLAS – Jan. 27, 2021 – JLL Capital Markets announced today that it has been selected to market for sale the T. Boone Pickens YMCA, a .096-acre development site located at 1516 Ross Avenue in the heart of Downtown Dallas, Texas.
“After extensive research, thought and consideration, the YMCA Board of Directors approved a recommendation to market a potential sale of the Downtown Y property,” said Curt Hazelbaker, President/Chief Executive Officer, YMCA of Metropolitan Dallas. “Sales efforts were temporarily postponed due to the pandemic and JLL has relaunched the marketing process for the site. However, the sale of the building will be contingent upon finding the right solution for the Y, our members and community.”
According to JLL Research, downtown Dallas, particularly the area near Klyde Warren Park, has become an attractive and active development area. Since 2012, more than two million square feet of office development has come online, bringing 10,000 new daytime workers into the urban core, along with close to 1,000 new apartment units, as well as related amenities to enhance the area’s overall live, work, and play atmosphere.
The JLL Capital Markets team leading the sales efforts consists of Senior Managing Director Michael Swaldi and Director Jonathan Carrier.
According to JLL, the downtown YMCA site has the potential to be a truly transformational project for the city. Its centralized location, accessibility and visibility create a unique, once-in-a-generation opportunity to leave a lasting legacy on downtown Dallas. This is a truly outstanding investment opportunity and we are proud to play a role in its transition.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.