JV Trips Green Light for $100M-Plus Project

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DALLAS-With two years invested into the planning, Lincoln Property Co. and Corrigan Properties Inc. are ready to forge ahead on a 445,000-sf trophy for the heart of Uptown. The trigger was pulled with the signing of a 100,000-sf headquarters lease by Texas Capital Bank.

The 2.9-acre tract's long been a favorite subject of Uptown brokers and market watchers who've waited for Lincoln to give the nod to its build-out. With the Ritz-Carlton Hotel & Residences going up right next door, all it took was the right lead tenant to get the project off the drawing board. Bob Mohr with Dallas-based Mohr Partners Inc. has been courting the Texas Capital Bank deal to developers and owners for roughly 15 months. The bank now headquarters at 2100 McKinney Ave. In addition, Lincoln plans to take down 60,000 sf for its headquarters, now at 3300 Lincoln Plaza in North Dallas, Jeff Montgomery for the Dallas-based Lincoln tells GlobeSt.com.

The 20-story office tower and abutting six-story condo building, designed by HKS Inc. of Dallas, will break ground in October. Delivery is planned for first quarter 2008.

A condo building, with 20 to 30 units, will front the proposed Woodall Rodgers park, which is being mapped out as a Central Park-type footprint to link Uptown and Downtown. Montgomery says talks are under way with several restaurateurs for a street-level signature to the condo building. Likewise, operators are in talks for a second restaurant opening in the office tower.

Lincoln's Elliot Priuer, Lee Nix and Montgomery are steering the preleasing campaign, quoting $33 per sf to $35 per sf for office space. "We have some pretty good activity," Montgomery says, adding that the 25,500-sf top floor is still available.

DALLAS-With two years invested into the planning, Lincoln Property Co. and Corrigan Properties Inc. are ready to forge ahead on a 445,000-sf trophy for the heart of Uptown. The trigger was pulled with the signing of a 100,000-sf headquarters lease by Texas Capital Bank.

The 2.9-acre tract's long been a favorite subject of Uptown brokers and market watchers who've waited for Lincoln to give the nod to its build-out. With the Ritz-Carlton Hotel & Residences going up right next door, all it took was the right lead tenant to get the project off the drawing board. Bob Mohr with Dallas-based Mohr Partners Inc. has been courting the Texas Capital Bank deal to developers and owners for roughly 15 months. The bank now headquarters at 2100 McKinney Ave. In addition, Lincoln plans to take down 60,000 sf for its headquarters, now at 3300 Lincoln Plaza in North Dallas, Jeff Montgomery for the Dallas-based Lincoln tells GlobeSt.com.

The 20-story office tower and abutting six-story condo building, designed by HKS Inc. of Dallas, will break ground in October. Delivery is planned for first quarter 2008.

A condo building, with 20 to 30 units, will front the proposed Woodall Rodgers park, which is being mapped out as a Central Park-type footprint to link Uptown and Downtown. Montgomery says talks are under way with several restaurateurs for a street-level signature to the condo building. Likewise, operators are in talks for a second restaurant opening in the office tower.

Lincoln's Elliot Priuer, Lee Nix and Montgomery are steering the preleasing campaign, quoting $33 per sf to $35 per sf for office space. "We have some pretty good activity," Montgomery says, adding that the 25,500-sf top floor is still available.