Dallas' $15M Purse: Historic Purse Building in Dallas Draws Interest from California and New York

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Sep 21, 2020, 08:16 ET

DALLAS, Sept. 21, 2020 /PRNewswire/ -- Tanya Ragan's investments are starting to pay off; even during a pandemic. As turmoil continues in California and New York, companies want out and are eyeing Downtown Dallas for their new homes.

Ragan's company, Wildcat Management, a 100-percent woman-owned, real estate investment, development, and management company is proud to announce a marked increase in activity and interest from companies seeking to relocate to Downtown Dallas from both California and New York. "Ninety percent of our inquiries right now are from out-of-state users. Real estate brokers are flying in for 24 hours with their clients to tour office and commercial spaces and making plans to relocate their businesses, corporate offices and residences to Dallas," explains Ragan.

Following her passion for urban revitalization and historic rehabilitation, Wildcat Management purchased The Historic Purse Building in 2014 and transformed the once-vacant, 65,000-square-foot, six-floor property into a sophisticated shell space ready to lease for office and retail. After nearly two years of renovation, the historic rehabilitation is complete with ground-floor retail, rooftop deck, statuesque windows, original wood floors, and aged timber columns. The building is listed on the National Register of Historic Places and was one of the last underdeveloped properties in Downtown Dallas' West End where more than 7 million people visit each year.

Wildcat Management President Tanya Ragan says the pandemic may have stalled tourism, but it definitely hasn't stopped investors and possible companies from strongly considering the Purse Building as their next home.

"I did not think there would be this much activity in the midst of COVID-19," said Ragan. "McKesson Corporation has moved here. Charles Schwab and Core-Mark are signaling their moves to Dallas from cities like San Francisco, projecting overall savings upwards of 30 percent. As the turmoil continues in their home states, these companies want out and are ready to make Dallas their new home. Wildcat Management will continue to explore leasing, relocation and sale opportunities. The Purse Building is like nothing in its class."

First constructed in 1905, the Purse Building sat uninhabited for decades until Wildcat Management took on the project in hopes of sparking economic turnaround and community growth. Wildcat Management has experienced increased activity over the past 60 days from out of state parties for leasing opportunities and from companies interested in purchasing and relocating their businesses to Downtown Dallas.

The Purse Building is at 601 Elm Street, one of the busiest streets in Downtown Dallas. "Busy is good," Ragan adds. "Location is everything. Dallas is the place to be."

About Wildcat Management
Wildcat Management is a woman-owned real estate investment, development and management company. Wildcat takes on mission-driven projects and strategic public-private sector partnerships in the hopes of sparking economic turnaround and community growth. For more information please visit https://linktr.ee/wildcatmanagement, http://www.pursebuildingdallas.com or contact us at [email protected] and 214-758-0348.

SOURCE Wildcat Management