In Brief: HVS Brokerage & Advisory announces the sale of the historic Katy Building, located in Dallas, Texas.
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Historic Katy Building Sold for Dallas Hotel Redevelopment – Image Credit Wikipedia
Shreem Katy, LP has acquired the Katy Building at 701 Commerce Street in Dallas from Expansive and plans to redevelop the property as an independent luxury boutique hotel.
HVS Brokerage & Advisory announced the sale of the historic Katy Building at 701 Commerce Street in Dallas to Irving-based Shreem Katy, LP. Chicago-based Expansive sold the property.
Constructed between 1912 and 1914, the building is located in Dallas’ West End Historic District and is surrounded by major employers, government offices, restaurants and cultural attractions.
Shreem Katy plans to convert the building through an adaptive reuse project into an independent luxury boutique hotel with rooftop executive suites, a basement speakeasy, a restaurant and a spa concept.
HVS Brokerage & Advisory team members Eric Guerrero, Matt Almy, Kyle Peterek, Fadi Rawashdeh, and Daneen Godinet participated in this transaction.