Downtown Dallas’ landmark Awalt Building sells to Denver real estate investor

One of downtown Dallas’ oldest commercial buildings has changed hands.

The six-story Awalt Building at Market Street and Pacific Avenue sits in the middle of the West End historic district.

The brick-and-timber building was constructed in 1905 for B.F. Avery Plow Co. It operated as a furniture warehouse for the Awalt Co. for decades before finally going dark. The historic building was empty for years before being converted to office and retail space.

Since 2016, the Awalt Building has been owned by an affiliate of Fort Worth-based Crescent Real Estate. The property was put up for sale late last year.

Now the landmark has been sold to Denver-based commercial property firm Koelbel and Co., county records show.

Koelbel and Co. is an almost 70-year-old real estate company with a track record of both commercial and residential projects.

The Colorado investor also purchased an adjoining parking lot at 211 N. Austin Street.

The Awalt Building sale comes shortly after Crescent Real Estate sold two other parking lots in the West End district to other investors.

Another West End building — the 98-year-old Oilwell Supply Building on Lamar Street — was sold last month to a Houston investor.

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