Dallas businessman David Gibson has sold all 17 buildings he had accumulated over the past 50 years near Fair Park. August Real Estate purchased 400,000 square feet of mixed-use properties in the Exposition Park neighborhood located close to the main entrance of Fair Park. The 97% leased buildings are home to small businesses, artists and residential tenants alike.
Gibson converted many of these old commercial structures into multi-purpose properties with some dating back as far as 1920s being historic structures. The new owners plan on making improvements for some of these properties such as repurposing Continental Gin – a cotton gin manufacturing plant built in 1888 – into office and retail space while also renovating 333 First Ave., formerly known as Trunk Club building which is now leased out for office use only.
Southside Bank provided financing for this purchase with Adam Mengacci from Institutional Property Advisors sourcing debt related services
