May Day Interests has acquired 501 Elm Place, a 190,000-square-foot historic building in Dallas’ West End district. The property was sold by International Capital on behalf of a German investor group, which had owned it since 1995.
Creighton Stark and Ben Lurie with Collier’s International put the deal together for the seller.
Martina Crevecoeur, vice president of acquisition and dispositions at International Capital, said the Colliers team identified “several qualified buyers, and sold the property for a price that we were very pleased with.”
“A historic property such as 501 Elm requires a local, experienced ownership group,” she said.
Built in 1903, 501 Elm Place occupies a full block in Dallas’ historic West End. The building accommodates office, retail, and residential uses; it also houses the Dallas Holocaust Museum.
501 Elm Place is the latest of several recent property trades in the submarket. Earlier this month, Five Smooth Stones, a development company led by ad executive Owen Hannay, acquired three West End buildings totaling 125,000 square feet.