Historic Statler Hotel in Downtown Dallas up for Sale

What do the Jackson 5, Audrey Hepburn and Tina Turner have in common? They all made history at the Statler Hotel, which just hit the market in downtown Dallas.

CBRE Group is marketing the mid-century modern, mixed-use landmark at 1914 Commerce Street, the Dallas Morning News reported. The listing comes about six years after Centurion American Development Group performed an award-winning reservation to preserve the building, following decades of neglect by previous owners.

The Statler’s time on the market could be short, as investors have already begun touring the site. Prospective buyers have until Aug. 10 to make an offer, said Brian Notdahl of CBRE Hotels.

Centurion, whose president and CEO is Mehrdad Moayedi, spent $230 million to reopen the building, which includes a live music venue, in 2017. It features 159 hotel rooms, 219 apartments and 92,000 square feet of retail space.

The Statler was built in 1956 for $16 million and once served as the largest convention facility in the South, according to its website. Designed by architect William B. Tabler, it was the first hotel to have elevator music and originally had more than 1,000 rooms.

Centurion has also listed the landmark Cabana Hotel near downtown Dallas, after a stalled redevelopment of the site. The same goes for the historic Braniff International Airways building it owns on the Dallas North Tollway, north of downtown.

—Quinn Donoghue