Ricchi Group is preparing to auction its office tower at 1111 Mockingbird Lane in Dallas, an asset the firm has held since 2012. The 15-story property, formerly known as Regions Tower, is being brought to market via an online auction format after more than a decade of ownership.
The tower is listed on LoopNet by Younger Partners, which is marketing the building with an auction scheduled for June 22-24. According to the online listing, bidding will open with a starting price of $2.75 million, setting a public floor for prospective investors evaluating the opportunity.
The Dallas Business Journal reports that the building is currently about 50% leased. With more than 268,000 square feet of office space and a 1974 construction date, the property offers a sizable footprint for users and investors considering repositioning strategies. Market observers cited in the report view the tower as a candidate for redevelopment, reflecting its age, tenancy profile, and location within a shifting office landscape.
The property’s online listing highlights its position near the convergence of several active Dallas destinations. The building is located off I-35E, providing direct highway access, and is described as being at the epicenter of an emerging Dallas market. It is situated near Dallas Love Field, the Design District, and the Medical District, areas that continue to see business activity and investment interest.
The Medical District, in particular, is noted in the listing as a major employment and visitation driver, employing more than 30,000 people and drawing over 3 million patient visits annually. Proximity to these demand generators may factor into how potential buyers underwrite the building’s future, whether as a stabilized office asset or with a broader redevelopment strategy in mind.
With an online auction date set and a defined opening bid, the offering gives prospective investors a time-bound entry point into a mid-1970s vintage, mid-rise office tower in a location that is promoted as evolving. How the market responds to the auction will help illuminate current investor appetite for partially leased, older office product in Dallas that may lend itself to repositioning or redevelopment.
