LPC Selected to Manage Dallas Office
- Feb 23, 2018
Lincoln Property Co. has been tapped to manage 400 Record, a downtown Dallas Class A office high-rise. Over the past year, the firm has taken steps to expand its nationwide third-party management portfolio. City Electric Supply, the owner of the 235,000-square-foot tower, acquired it from Gannett in October of 2014, according to Yardi Matrix.
The owner occupies part of the tower, along with a number of other tenants including Labora Group, Eighty Three Creative, Whitebox Real Estate and The Tot. According to Yardi Matrix data from January 2018, 53,565 square feet remain available for lease, marketed by a Cushman & Wakefield team led by Matthew Schendle and Rena Padachy.
Located at 400 S. Record St., the 17-story building sits in the heart of Dallas’ central business district, between interstates 30 and 35 and two blocks from Union Station. The property is well-served by Dallas’ bus and light rail systems, with several stops a short walk away. Additionally, the 2 million-square-foot Kay Bailey Hutchison Convention Center is within a five minute walk south from the building’s doors.
Large-scale renovations and updates
In 2015, the owner contracted Gensler to redesign and reposition the asset, formerly known as the Belo Building, which had been constructed in 1984. The resulting project updated the building to include a wide range of new amenities, including a 4,700-square-foot fitness center, 5,500 square feet of conference rooms, an upscale French restaurant on the mezzanine and three levels of parking located beneath the structure, complete with a car wash station.
Image courtesy of Lincoln Property Co.