Copeland Tower and Stadium Place, both built in the 1980s and totaling more than 210,000 square feet, have struggled in recent years to meet loan obligations. In 2022, the struggle culminated in a foreclosure, when a trust arranged by UBS took the title from the prior owner, Aque Investment Group.
The Dallas Business Journal reports the trust is now trying to secure new leases and renewals and is formalizing plans to market the property in the second quarter. The 12-story Copeland Tower’s occupancy was at 40%, while the five-story Stadium Place was at 77% occupancy. The combined appraised value of the towers fell by roughly 50% from 2018 to 2023 — from $29 million to $14.6 million. Some of the biggest tenants in the tower include the Texas Department of Family & Protective Services and Northstar Energy Services Inc. JLL handles leasing for the buildings.
Read More: Two Distressed Arlington Office Towers May Hit the Market
