Ricchi Group is auctioning off its office tower at 1111 Mockingbird Lane in Dallas. Ricchi has owned the 15-story building since 2012.
Formerly known as Regions Tower, it is listed on LoopNet by Younger Partners with an online auction set for June 22-24. The starting bid is $2.75 million.
The Dallas Business Journal reports the building is about 50% leased. The tower has more than 268,000 square feet of office space and was built in 1974. It’s expected to be a candidate for redevelopment.
The online listing for the property says it’s at the “epicenter of an emerging Dallas market” off I-35E, close to Dallas Love Field, the Design District and the rapidly growing Medical District, which employs more than 30,000 people and attracts 3 million-plus patient visits annually.
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