One Dallas Center: Ownership, Office Tenants, and the 2025 Foreclosure on Its Office Half

What the building is today

The tower is split into two separately owned halves. The lower floors are office space: architecture firm HKS Inc. has occupied floors 1 through 7 as its global headquarters since 2013, and Greyhound Lines has kept its corporate offices in the building through its 2021 sale to Germany’s Flix SE. The upper floors are for-lease residential units, sold in 2015 to an unnamed institutional investor. One frequently repeated tenant roster for the building also names a third, financial-services firm as an office occupant; this research could not independently confirm that tenancy is still current, so it is left as an open item rather than restated as settled fact.

Is One Dallas Center an office building or an apartment building? Both. A roughly 14-floor office component and a roughly 16-floor residential component of 275 to 276 for-lease apartments have been separately owned since 2015.

Ownership and naming history

The building opened in 1979 as One Dallas Centre, the first phase of a $200 million mixed-use plan announced in 1977 by developer Vince Carrozza. Younan Properties Inc. bought it in 2007 and renamed it Patriot Tower. Todd Interests acquired the then-distressed tower in 2012, restored the original name, and split it into office and residential condominium regimes before selling each piece.

The office side has changed hands four times since 1979, while the residential side has had only one owner since the 2015 split: that is the practical difference the two ownership tracks carry into 2026.

Confirmed vs. disputed facts

Two widely repeated details about this building could not be traced to an independently reachable primary source in this research pass: a 1985 sale to Trammell Crow, and a construction-era crane accident during the original build. Both are common in secondary building-history compilations, but neither is confirmed here.

A separate, smaller discrepancy: the developer’s own account and independent coverage agree the residential sale involved 275 to 276 units, off by one, most plausibly a rounding or timing difference in how a unit was counted at closing.

Why was it called Patriot Tower? Younan Properties Inc. renamed the building after buying it in 2007. Todd Interests restored the original One Dallas Center name after its 2012 acquisition.

Why it looks the way it does

The tower’s diamond-shaped footprint comes from Henry Cobb’s original site plan, which set the building at an angle to downtown Dallas’s street grid instead of filling the block. Only this first tower of a larger, multi-phase 1977 master plan was ever built; additional office and hotel phases once planned for the surrounding blocks never broke ground.

Were Two Dallas Center and Three Dallas Center ever built? No. Only the first phase, One Dallas Center, was constructed.

The 2012 conversion as an adaptive-reuse case

Todd Interests’ account of the deal gives numbers rare in coverage of this building: a sub-10-percent-occupied, 600,000-square-foot office tower and garage, closed in under 90 days, then re-tenanted around two anchor leases. HKS Inc. signed a 22-year lease for 142,500 sq ft across floors 1 through 7 in 2013, relocating roughly 500 employees from Uptown Dallas; the space later earned LEED Platinum Commercial Interiors certification, a rare dual v3/v4 pilot for the U.S. Green Building Council. Greyhound Lines took five floors under a separate long-term lease. Todd Interests sold the residential half in June 2015 and the office half in December 2015, completing what it describes as a 36-month acquisition-to-exit cycle.

Current status: the 2025 foreclosure on the office half

As of the most recent reporting available, Pacific Elm Properties, the renamed successor to Woods Capital, was in default on a $34.5 million securitized loan tied to the office and garage portion it bought in 2015, with a foreclosure auction reported for September 2025 and Barclays named as the lender. This is a live financial-distress event, not settled history, and this page does not track its resolution beyond what is sourced here.

One industry photo caption from the same period describes the Woods Capital-owned portion as the apartments; the developer’s own account and independent coverage instead identify the Woods Capital/Pacific Elm-owned piece as the office and garage. The office-half identification is used throughout this page because two independent sources corroborate it.

Is Greyhound’s Dallas bus station at One Dallas Center? Not anymore. Greyhound and FlixBus moved their shared Dallas passenger terminal to 9755 Harry Hines Blvd in December 2025. Greyhound’s corporate headquarters offices remain in the tower.

Location and access

The building sits in the City Center District at 350 North St. Paul Street, adjacent to DART’s St. Paul Station, with direct rail access cited by HKS as a factor in its own relocation decision.

Where to find current availability and pricing

Unit pricing and office vacancy change too often to reproduce reliably here. For current residential availability, check the property’s own leasing channels; for office space, current ownership and leasing are in flux given the 2025 foreclosure proceeding described above.