A North Dallas office tower has joined the growing list of commercial properties posted for foreclosure.

The 13-story Coit Central Tower at 12001 North Central Expressway just north of Forest Lane is one of the largest and most prominent Dallas-area commercial properties to be threatened with a forced sale in recent years, according to Addison-based Foreclosure Listing Service, which tracks foreclosures.

"I can't think of any office buildings of decent size that has been posted in recent times," said Foreclosure Listing Service president George Roddy. "I hope this is not the beginning of trouble for commercial."

Built in 1984, the high-rise contains more than 256,000 square feet.

The building has been owned by a real estate partnership affiliated with real estate investor International Capital Partners of Scottsdale, Ariz., since April 2007, according to Dallas County tax records.

Lender Gramercy Warehouse Funding II LLC has posted the building for next month's foreclosure sale. The original loan amount on the property was $28.7 million, according to the foreclosure filing.

The tower – which is less than 40 percent leased – is valued for taxes at about $23 million.

Officials with International Capital Partners did not respond to inquiries about plans for the building.

Not all properties posted for foreclosure are sold. Sometimes the borrower and lender work out a new financial agreement or delay the auction of the property.

While more than 25,000 Dallas-Fort Worth area homes have been posted for foreclosure this year, there have been few commercial properties so far.

During the first half of 2008, fewer than 1,000 commercial real estate foreclosure postings were recorded in the D-FW area, according to Foreclosure Listing Service.

Most of the commercial foreclosure postings so far have been for older, secondary properties.

But with the worsening credit crunch, real estate analysts say, some building owners are unable to refinance properties and may face loan defaults.

Commercial property foreclosure postings in the Dallas-Fort Worth area rose 35 percent in the first half of 2008 compared with the same period last year.