December 11, 2018
Development team KDC and Hoque Global opted to back out of acquiring the former headquarters building and site of the Dallas Morning News. The partners, which signed a contract in October 2018 to acquire the building at 508 Young St. for $33 million, exercised a clause in the contract allowing for cancellation of the purchase from Morning News’ parent company A.H. Belo Corp.
The developers, operating under 508 Young Acquisition LP, pitched the property as a site for HQ2, Amazon Inc.’s second headquarters complex. Amazon opted to place its headquarters in Northern Virginia/Washington D.C. and Long Island City in New York.
“We are disappointed that this transaction will not close as anticipated, and A. H. Belo will work with its broker to actively market the property beginning now,” stated A.H. Belo’s Katy Murray.
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