**Cawley Partners Acquires Distressed Harwood Office Tower in Dallas**
Cawley Partners has acquired Harwood No. 1, a seven-story, approximately 106,000-square-foot office tower located at 2651 N. Harwood St. in Dallas. The building was purchased from First United Bank, which had regained ownership through a foreclosure auction in November with a winning bid of $27.2 million. Originally developed in 1982 by Harwood International Inc., the office tower is currently about 50% leased.
Existing tenants at Harwood No. 1 include Cadence Bank, Huron Consulting Group Inc., and Unifeye Vision Partners.
Cawley Partners plans to revitalize the property, with renovations including updates to the lobby, corridors, restrooms, and top-floor lounge spaces. The developer also intends to build out 50,000 square feet of spec suites in an effort to attract additional tenants.
Cawley Partners is recognized for its focus on office developments in Dallas suburbs, particularly along the Dallas North Tollway in markets such as Plano and Frisco.
