One of the first office buildings in Dallas’ Harwood District, Harwood No. 1, has changed ownership after a foreclosure process. Cawley Partners, based in Dallas, acquired the seven-story office building at 2651 North Harwood Street and intends to renovate it within the year. The transaction closed on December 30 and was announced on January 6.
Originally developed in 1982 by Harwood International for Rolex, the building spans approximately 106,000 square feet and is about half leased. Current tenants include Cadence Bank, Huron Consulting Group, and Unifeye Vision Partners.
The financial details of the sale were not made public. However, records from the Dallas Central Appraisal District valued the property at $25 million last year, with $7.6 million attributed to the land. First United Bank sold the property after taking control through a foreclosure auction in November with a winning bid of $27.2 million.
This sale follows a period of financial strain for Harwood International, which is led by Gabriel Barbier-Mueller and has spent years developing properties in Uptown and Victory Park. Over the past year, several other buildings owned by Harwood have been sold under similar circumstances.
In 2024 alone, four other buildings—Harwood No. 2, 6, 7 and 10—totaling nearly one million square feet were sold to TPG as part of this ongoing reshuffling within the district.
Cawley Partners plans to upgrade common areas such as lobbies and restrooms and will build out approximately half of the building’s space as speculative suites for new tenants. Renovation work is expected to begin late in the first quarter or early in the second quarter.
Despite these changes, some features reflecting its origins remain; notably a Rolex clock still stands in its atrium.
