A South Korea–based investor has purchased The Union in Uptown Dallas, at a record-breaking price-per-square-foot sales price in North Texas, according to local media outlets.
The sales price was $370 million, or $750 per square foot. The seller of the three-building asset was RED development.
The new owner, 2300 North Akard Owner, is a company represented by Dallas-based HC2 Capital, which represents foreign buyers.
Completed in 2019, the Union includes a 21-story office building, which is 93 percent occupied, and more than 85,000 square feet of retail space anchored by a Tom Thumb grocery store, as well as restaurants, which include The Henry, North Italia and TacoLingo. The property also includes an adjoining high-rise apartment tower, which was not included in the sale.
The previous record deal was 1900 Pearl, which sold to State Teachers Retirement System of Ohio, at $700 per square foot.
