Bank One Center building in Dallas sells for $216 million

Crescent Real Estate Equities Company (NYSE:CEI) today announced the sale of Bank One Center, a 1.5 million square-foot Class A office property located in downtown Dallas. The property, of which Crescent owned a 50 percent interest, was sold for $216 million, or $141 per square foot.

At 787 feet, this building already impressively punctuates the Dallas skyline. In fact, it's the third tallest building in the city. But the impression it gives is of an even greater height through a modern interpretation of the classic barrel vault. Beyond that, it uses a traditional three-sectioned skyscraper form with upper level setbacks rounded and molded to match the vaults and give the building an overall art nouveau style. The setbacks carve a cross shape from the building's top section, but sheets of glass descending like a waterfall from the vaults continue the illusion to street level.