DALLAS--(BUSINESS WIRE)--Lincoln Property Company ("Lincoln"), a global, full-service real estate firm, announced that it has acquired a four-acre site at 2500 Cedar Springs Road in Uptown Dallas. The company plans to develop a Class A mixed-use project with approximately 400,000-500,000 sq. ft. of office space, +/- 250 luxury apartments, a 200-key five-star hotel/residence, and 25,000 sq. ft. of food and beverage retail, as well as ample green space, on the site.
“This is without a doubt one of the best land sites in the country and we could not be more excited to bring another modern, Class A mixed-use development to Uptown Dallas,” said Clay Duvall, co-Chief Executive Officer, Lincoln Property Company. “We’re thrilled to have acquired this top tier site and look forward to bringing this incredible new mixed-use project to Dallas.”
“When complete, this will be one of the most significant developments in Dallas since The Crescent,” said Chase Prospere, Senior Vice President and Office Market Leader at Lincoln in Dallas. “The completion of the site acquisition is the first step in bringing our vision to life in one of the most sought-after submarkets in the country.”
“A timeline for development has yet to be finalized,” he added. “Complex developments like this are years in the making and it’s very early in the process, but we intend to move at pace to get to groundbreaking. We are actively marketing the project to prospective anchor tenants and expect leasing activity to be strong given the unique location and amenities of the project.”
Lincoln will handle leasing for the project in-house with Dallas leasing experts Jake Young and Worthey Wiles leading the effort.
2500 Cedar Springs is in the heart of Uptown Dallas and a short walk from the Crescent office and hotel, the Ritz Carlton Hotel, the Katy Trail, Klyde Warren Park, Victory Park, the American Airlines Center, and numerous restaurants. It’s also easily accessible from many desirable Dallas neighborhoods, including the Park Cities/Preston Hollow and is a 15-minute drive to Love Field.
About Lincoln Property Company
Lincoln Property Company (“Lincoln”) is one of the largest diversified real estate services companies with 35 offices across the United States, the United Kingdom and Europe. Offering a comprehensive suite of real estate solutions, Lincoln manages, leases, develops, and provides advisory services to owners and occupiers of office, life science, retail, industrial, data center, production studio, and mixed-used properties. Lincoln's combined management and leasing portfolio on behalf of institutional clients includes approximately 500 million square feet of commercial space. In addition to providing third party real estate services, Lincoln, which was founded in 1965, has principally acquired and developed more than $24 billion and 62 million square feet of commercial projects since 2018. For more information, visit: www.lpc.com.