Dallas developer Tanya Ragan and Wildcat Management listed the century-old Purse Building in Downtown Dallas. The 65,000-SF landmark at 601 Elm Street offers investors skyline views, historic tax credit incentives, and rare redevelopment potential in one of the fastest-growing U.S. urban markets.
-- The Purse Building, one of Dallas' most historic commercial landmarks, is officially on the market. Located at 601 Elm Street in Downtown Dallas, the six-story red brick property presents a once-in-a-generation opportunity for investors seeking scale, history, and redevelopment potential in downtown Dallas.
Dating back to 1905, this six-story property reflects more than a century of Dallas' growth. It first housed the Parlin & Orendorff Implement Company and later Purse & Co. Wholesale Furniture. Today it appears on the National Register of Historic Places as one of the city's few surviving pre-World War I warehouse buildings.
The building also carries a unique chapter of American history. In 1963, the FBI commandeered the property as its command center during the JFK assassination investigation, underscoring its prominence at Dealey Plaza.
Wildcat Management, led by Dallas developer Tanya Ragan, acquired and restored the building after it sat vacant for nearly three decades. In 2020, Wildcat completed a major core and shell renovation, preserving original architectural features while preparing the building for adaptive reuse.
"Restoring the Purse Building has been one of my pride projects," said Ragan. "It honors the history of Dallas while positioning the property for its future."
The ±65,000-square-foot property offers six open floor plates of approximately 9,100 square feet each, with exposed brick, timber beams, and industrial-style windows. The rooftop delivers 360-degree unobstructed skyline views, and the ground floor offers a prime corner location suited for retail or restaurant use. Zoning CA-1(A) allows for all uses with no maximum density.
Potential redevelopment scenarios include boutique hotel (102-116 key feasibility), creative office, residential lofts or condominiums, or mixed-use concepts combining retail, dining, and workspace. As a historic property, the building also qualifies for federal and state historic tax credits and local abatements, which can offset up to 45 percent of rehabilitation costs.
Positioned at the center of more than $3 billion in planned development in the Dallas Convention Center District and surrounding neighborhoods, the Purse Building stands as a flagship opportunity in one of the city's most active urban markets.
For more information, see The Historic Purse Building Is Now for Sale in Downtown Dallas.
About Tanya Ragan
Tanya Ragan is an entrepreneur, speaker, and President of Wildcat Management, a Dallas-based commercial real estate development firm leading urban revitalization projects. Known for her tenacity and dealmaking acumen, she is a nationally recognized voice in commercial real estate, female empowerment, and entrepreneurship. Ragan is the co-author of the best-selling book Blaze Your Own Trail, a multiple business award winner-including the GlobeSt. Women of Influence Award and Bisnow's Women Leading Real Estate-and is ranked in the Top 100 Commercial Real Estate Influencers by The Business Journal.
About the company: Wildcat Management is a Dallas-based real estate development firm dedicated to revitalizing urban communities through innovative and sustainable projects. With a strong track record in adaptive reuse and placemaking, Wildcat continues to set the standard for impactful and community-driven development across the North Texas region.
Contact Info:
Name: Monica Moreno
Email: Send Email
Organization: Historic Purse Building / Wildcat Management
Address: 601 Elm St, Dallas, TX 75202
Phone: (214) 758-0348
Website: https://www.pursebuildingdallas.com/
Release ID: 89170511
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