One of the largest office buildings in downtown Dallas, Harwood Center, is set to be auctioned online with bids starting at $10 million. The 36-story property, located at 1999 Bryan Street, is currently only 47 percent leased and covers 735,000 square feet. Bids are due by October 15 through the Marketplace platform.
CW Capital, the current owner, acquired Harwood Center after a foreclosure auction in 2021 for $80 million. The previous owner, Fortis Property Group, purchased the building in 2006 and invested $10 million in renovations five years later. In February of this year, an appraisal reduced the building’s value by 20 percent to $51.2 million—down from a peak valuation of $124 million in 2014. The Dallas Central Appraisal District now values it at $45.4 million.
Major tenants include Jacobs Engineering’s global headquarters, Omnicom Management, and the General Services Administration. The tower was built in the early 1980s and is zoned for mixed-use redevelopment that could allow residential or hotel conversions. Its location offers access to public transit options like the St. Paul DART station and M-Line trolley and includes over 1,300 parking spaces.
A small parcel of land beneath Harwood Center is also on the market separately by Colliers; it comes with a ground lease expiring in 2077 and generates an annual rent payment of $65,232.
Downtown Dallas faces high office vacancy rates compared to other areas such as Uptown, where newer developments have drawn more tenants and accounted for most new construction projects in recent years. This situation has left older properties like Harwood Center struggling to attract occupants as demand shifts toward modern offices with enhanced amenities.
Transwestern brokers Mike Hardage, Stephen Simon, and Steve Pumper are marketing Harwood Center to potential buyers who may see its underused space as an opportunity for redevelopment or conversion into other uses.
“Harwood Center’s half-empty floors may look like a liability now, but for the right investor, they could be the blank canvas for downtown’s next big conversion,” said Eric Weilbacher.
