HALL Group has closed on an eight-story, 112,000-square-foot office tower at 2525 McKinnon St. in Uptown Dallas, a purchase that will give Craig Hall's development firm a permanent foothold in one of the region's tightest office submarkets. The deal closed Thursday afternoon, and HALL Group plans to rename the building Hall Uptown while establishing a dual headquarters there and at HALL Park in Frisco starting next spring.
The acquisition was first reported by The Dallas Morning News, which noted the transaction had not yet appeared in county records and that the purchase price was not disclosed. The building sits across the street from both the Rosewood Crescent Hotel and the McKinney & Olive tower, placing it squarely in a corridor the newspaper's reporting described as one of Dallas-Fort Worth's hottest office submarkets. Eastdil Secured Savills' Dallas office brokered the sale, according to the same report.
The seller, City Office REIT Inc., a Canada-based real estate investment trust, had owned the property for nearly a decade after acquiring it in January 2017 for $46.8 million — roughly $419 per square foot, according to a filing referenced by Seeking Alpha. An affiliate of the REIT had taken out a $90 million loan against the building in January, with Athene Annuity & Life Company listed as the lender, per the Dallas Morning News report. The Dallas Central Appraisal District currently values the property at $37.5 million for tax purposes, leaving open how that figure compares with what HALL Group actually paid.
A Portfolio Exit Years in the Making
The sale fits into a much larger unwinding. City Office REIT entered a $1.1 billion definitive agreement in July 2025 to be acquired by MCME Carell Holdings, a deal structured to take the company private and liquidate its regional office holdings, according to a filing with the U.S. Securities and Exchange Commission. Hoodline has previously reported on pieces of that broader disposition, including the REIT's sale of Denver Tech Center parcels tied to a 660-unit apartment plan and Eastdil Secured's role advising on the REIT's overall $1.1 billion sale, detailed in Hoodline's coverage of a separate Eastdil transaction.
Completed in 2003, the tower features a black granite exterior, a two-story entrance archway, and six parking levels split between two above-ground and four subterranean floors, according to property details compiled by CommercialSearch. The Dallas Morning News reported that HALL Group intends to improve the building's systems, upgrade the lobby and common areas, and add speculative suites — the kind of renovation strategy that has become common as owners compete for tenants in a market starved of new supply.
Why HALL Group Wanted In
Craig Hall started HALL Group in 1968 at age 18 with $4,000 he had saved from childhood side ventures, according to the company's own account of its founding on its corporate leadership page. In the decades since, the firm has developed HALL Park in Frisco, a 162-acre campus it began building in 1989 that today includes 16 office buildings. That development is now mid-transformation: HALL Group is executing a 20-year, $7 billion master plan to expand HALL Park into a 9.5-million-square-foot mixed-use district, according to the firm's own project materials.
HALL Group has already shown it can deliver on that vision. In October 2024, the company opened the 224-room HALL Park Hotel, a Marriott Autograph Collection property, alongside the adjacent 5.7-acre Kaleidoscope Park — the same park Hoodline covered this month when it hosted a free Hispanic Heritage festival. The firm's leasing momentum has continued into this month as well, with JPMorgan Chase signing a lease at HALL Park in August, according to HALL Group.
HALL Group's current headquarters, KPMG Plaza at HALL Arts, is an 18-story, 500,000-square-foot Class A tower at 2323 Ross Ave. that opened in 2015 as the first office building built in downtown Dallas in nearly a decade, anchoring the city's Arts District. Craig Hall said Uptown Dallas is one of the premier office markets in the country, according to the Dallas Morning News, a comment that frames the McKinnon Street purchase as a deliberate expansion beyond HALL Group's existing Frisco and downtown footprint rather than a one-off deal.
Uptown Stays Tight Even as DFW Struggles
The purchase lands amid a broader flight-to-quality trend across North Texas office real estate. Direct Class A asking rents in Dallas-Fort Worth reached $39.21 per square foot in mid-2026, up 3.7% year-over-year, with top-tier trophy buildings commanding as much as $75.20 per square foot, according to Cushman & Wakefield. At the same time, total office construction across the metro fell to just 1.7 million square feet in mid-2026 — its lowest level since 2013 — with speculative construction accounting for only 836,247 square feet of that total, the firm's data shows.
Those supply constraints help explain why an established developer would rather buy and renovate an existing Class A tower than wait for new construction. The Dallas Morning News reported that roughly 171 office properties were on the market across the region as of mid-July, representing about 10.9 million square feet — a 10-year high for available space. HALL Group was not alone in seeing opportunity in that glut: the newspaper reported that Dallas-based August Real Estate bought the Meadows Building in an off-market deal earlier the same week, though the purchase price in that transaction also went undisclosed.
For now, HALL Group's next headquarters is a work in progress. The firm plans to formally establish its dual base at Hall Uptown and HALL Park next spring, according to the Dallas Morning News, leaving the precise scope and timeline of the McKinnon Street renovations, along with the final sale price, as open questions for the months ahead.
