Lincoln Property to Develop Mixed-Use Project in Dallas
- Apr 19, 2021
Lincoln Property Co. is set to break ground on a Dallas mixed-use project consisting of 225,000 square feet of office space and 128 multifamily units. The company is developing the site on land owned by Saint Michael and All Angels Episcopal Church, after a five-year effort to secure entitlements for the site from local authorities. Construction is expected to begin in May.
The 12-story office building includes a putting green, pickleball court and an outdoor terrace at the penthouse level. Lincoln Property is set to lease nearly 59,000 square feet at the building. Sewell Automotive Cos. will occupy approximately 26,500 square feet of the property. The office development is located at 8111 Douglas Ave. The 14-story residential tower is set to include a rooftop terrace with a pool and luxury lounge. The multifamily project is located within the Highland Park Independent School District.
In addition to the office and residential parts, the development is also set to have a ground-floor restaurant and more than 1.3 acres of outdoor green spaces. The project will include a shared amenity deck located between the two main towers.
Located at the primary intersection of Northwest Highway and the Dallas North Tollway, the development is within 6 miles of the metro’s downtown and 4 miles of Dallas Love Field Airport. DFW International Airport is 17 miles from the project.
Recently, Lincoln sold a five-building, 540,000-square-foot industrial portfolio in Phoenix, to KKR. The assets traded for a total of $68 million.