North Dallas: Park Central

itsjrd1964
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North Dallas: Park Central

Postby itsjrd1964 » 05 Dec 2023 13:16

(Forgive me if there is already a Park Central thread.)

Costco makes bid for North Dallas office tower on U.S. 75

This is one of the dark-colored office buildings just north of the Costco at Central/Churchill Way. The DMN thinks the interest might be because Costco might want to expand the store or parking lot. One other possibility could be that Costco wants a regional or corporate office here.

https://www.dallasnews.com/business/rea ... -on-us-75/

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The_Overdog
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Re: North Dallas: Park Central

Postby The_Overdog » 06 Dec 2023 09:16

That would be very Dallas - to bulldoze a multi-story office building with a parking garage for more surface parking.

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I45Tex
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Re: North Dallas: Park Central

Postby I45Tex » 06 Dec 2023 11:11

CoStar interviewed some brokers who didn't have a connection to the auction (Costco bid 14.25MM, next-highest bid was 12.5MM) and was told that the additional costs of renovation made that unlikely to be a planned backoffice location for Costco, and more like a bid for its lot value. They speculated that it might go from a ten storey tower to a Costco gas station and convenience plaza.

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I45Tex
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Re: North Dallas: Park Central

Postby I45Tex » 06 Dec 2023 11:17

It looks like their existing fuel station is on the nearest (northeast) corner of the parking lot.

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CTroyMathis
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Re: North Dallas: Park Central

Postby CTroyMathis » 06 Dec 2023 13:26

Maybe they can also put in a giant eyeball.

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rono3849
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Re: North Dallas: Park Central

Postby rono3849 » 06 Dec 2023 13:32

I'd place my bet on the building being their regional headquarters. That building is very nice and certainly would house Costco's regional operations.

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Erick_g02
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Re: North Dallas: Park Central

Postby Erick_g02 » 06 Dec 2023 14:08

I don't understand why Dallas doesn't build multi-level parking garages at retail locations. The only one I can think of is the Walmart-Sam's Club near NW Hwy. When I visit South Florida, there are Publix and Whole Foods with parking garages and they look alright. Costco with their near infinite resources (lol) should build one in their existing lot if they really need it.

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eburress
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Re: North Dallas: Park Central

Postby eburress » 06 Dec 2023 14:24

I45Tex wrote:CoStar interviewed some brokers who didn't have a connection to the auction (Costco bid 14.25MM, next-highest bid was 12.5MM) and was told that the additional costs of renovation made that unlikely to be a planned backoffice location for Costco, and more like a bid for its lot value. They speculated that it might go from a ten storey tower to a Costco gas station and convenience plaza.


That would be insane.

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Matt777
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Re: North Dallas: Park Central

Postby Matt777 » 06 Dec 2023 16:16

So insanely stupid if true. Would they require a zoning change to use it for retail/gas station?
If the store is crowded, just build another store elsewhere instead of adding more and more acres of surface parking. Or a garage on existing land.

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I45Tex
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Re: North Dallas: Park Central

Postby I45Tex » 07 Dec 2023 13:24

Insane would be projecting ten-storey-high Costco specials on both sides in real time FOREVER

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NdoorTX
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Re: North Dallas: Park Central

Postby NdoorTX » 07 Dec 2023 16:57

For reference:

Image

Image

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CTroyMathis
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Re: North Dallas: Park Central

Postby CTroyMathis » 07 Dec 2023 20:56

Yep. Would look so much better not there.

Alternate universe: Costco goes IKEA-beast-mode and makes the whole building a showroom store. With hot dogs? Maybe a few lucky people could even bunk for the night with room service, trying out a new fully-furnished and televised new room they want at home.

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I45Tex
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Re: North Dallas: Park Central

Postby I45Tex » 07 Dec 2023 22:19

CTroysco, IKEA Beast.

But it looks like it would make an excellent next-generation Dallas Public Library Branch with hotdogs

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CTroyMathis
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Re: North Dallas: Park Central

Postby CTroyMathis » 08 Dec 2023 09:24

^Lol.

The empty (and relatively newish) One West Village (TRG/Richards Group Building that looks like a giant gamer's desktop unit) layout would suit quite the nice library. The amount of parking would seem to be unnecessary, lending to maybe some re-purposing of a couple of levels or so. Of course, that's not going to happen and for another thread anyway.

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The_Overdog
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Re: North Dallas: Park Central

Postby The_Overdog » 12 Dec 2023 16:45

There is some speculation (not sure how real) on reddit that Costco will vacate offices in west Plano (3905 Dallas Parkway I think) to move here. It's a dumpy little 2 story office building that looks similar in size listed as "Costco IT".

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undefinedprocess
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Re: North Dallas: Park Central

Postby undefinedprocess » 29 Dec 2023 11:55

The_Overdog wrote:There is some speculation (not sure how real) on reddit that Costco will vacate offices in west Plano (3905 Dallas Parkway I think) to move here. It's a dumpy little 2 story office building that looks similar in size listed as "Costco IT".

Interesting speculation for sure, and hopefully true. Would be great to see them move to that headcount to Dallas (even though this is still pretty far removed from the core).