AT&T’s Dallas headquarters tower sold

DALLAS — AT&T’s landmark headquarters tower in downtown Dallas has been sold to well-known Dallas investors Tom Dundon and Jonas Woods.

Dundon Capital Partners and Woods Capital purchased One AT&T Plaza, a 37-story, Class A office tower with 965,800-square-feet of space, real estate firm CBRE announced Wednesday. Terms of the deal weren’t disclosed, although experts earlier predicted it would bring in at least $250 million.

The investors bought the tower — the most visible feature of the telecom giant’s broader downtown campus — from Icahn Enterprises, a unit of billionaire New York investor Carl Icahn’s property firm.

Dundon, chairman and managing partner of Dundon Capital Partners, told The Dallas Morning News that Woods got him interested in the deal.

“I want to invest in downtown Dallas and [Woods] asked if I’d partner with him,” Dundon said. “It’s a good location. I think downtown is growing and AT&T is a pre-eminent business in Dallas. It’s going to be there for a long time.”

He also hinted another deal could be coming, but not necessarily downtown.

The winning AT&T bid was one of more than 20 offers, said Gary Carr, vice chairman with CBRE in Dallas. The suitors were enticed largely because AT&T had renewed its lease through August 2030 before the property was put on the market.