The Greyhound Station property in downtown Dallas will soon be in new hands.
Dallas real estate developer and businessman Ray Washburn said in an exclusive interview with The Dallas Morning News Thursday that he has completed the sale of the property at 205 South Lamar Street. Washburn owns several other notable real estate assets in the area, including Founders Square, Dallas Knox Street, and the former Dallas Morning News campus.
A Greyhound spokesperson announced in January that the terminal would close in October when the lease expires, but intercity bus service would continue. However, the bus company later extended the lease on the space until April 2025, after which Mr Washburn said it would be redeveloped.
Greyhound declined to comment on the sale.
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Specific plans for the property have not yet been established, but it would fit into Washburn’s larger plans to redevelop downtown.
“I’m just trying to help clean up downtown … and get it ready for the new convention center,” Washburn said. “They’re going to be there until April, and then we’re going to go in there and decide how to redevelop and reposition it.”
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Details of the sale were kept confidential. The 26,000-square-foot property at 205 S. Lamar St. is valued at $2.8 million, according to the Dallas Central Appraisal District.
Twenty Lake Holdings, a subsidiary of investment firm Alden Global Capital, purchased 33 Greyhound stations across the United States from UK-based First Group in late 2022 for $140 million. Since then, terminals in major hubs such as Philadelphia and Cincinnati have been closed and real estate put up for sale.
As a result, passengers may end up waiting hours for a connection and may be left with no shelter. Supporters argue that when new terminals are built, they often push them into suburbs far from public transportation, creating challenges for users without cars.
Mr Washburn said he would likely consider preserving the sign on the property, which was built around 1946.
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