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Woodbine and First United Bank Purchase Advancial Tower in Dallas

March 6th, 2019 in

Woodbine Development Corporation partnered with First United Bank to acquire Advancial Tower, located at 1845 Woodall Rogers Freeway in Dallas.

Advancial Tower is a 17-story, 147,000-plus square-foot, Class-A office building in the heart of Uptown Dallas with sweeping views in every direction. Boasting convenient access to Uptown’s walkable amenities, including The Union mixed-use development and the American Airlines Arena, the tower will also reap the benefits from the Klyde Warren Park expansion set to begin this year—making it ideal for professional users who want to capitalize on a live/work/play environment.

Woodbine has traditionally invested in hotels and destination resort assets. When the opportunity to acquire the office building directly across from their Dallas headquarters presented itself, their team moved quickly and found a partner in First United. Woodbine plans to leverage its hospitality expertise to create a tenant experience that rivals the guest experience at an upscale, full-service hotel—one likely to feature an enhanced valet arrival, executive car transportation, concierge services, front desk personnel and more.

The tower will soon serve as the Dallas headquarters for First United Bank. President and CEO of First United Greg Massey said that First United will build out a one-of-a-kind Spend Life Wisely bank lobby for its office within Advancial Tower. The First United space will include innovative and collaborative elements such as a coffee and learning lounge, a tech table, and a community room that will be available to the public. The bank itself will also include corporate and commercial real estate lending, wealth management, insurance and mortgage teams to better serve the needs of First United customers.

Woodbine and First United are long-term owners and would like to recruit a curated group of tenants to include a mix of professional service corporations, entrepreneurial companies and creative tenants who will value the significant investment Woodbine plans to make to the building.