Lincoln Property Co., owner of established Dallas residential staple The Village, unveiled its new global headquarters, located at 8111 Douglas Avenue in Dallas. Completed this year, Lincoln led the development of 8111 Douglas, a mixed-used project comprising two 13-story towers. The office building provides 225,000 square feet of Class A office and retail space, while the residential tower includes 128 luxury apartments averaging 1,400 square feet. The new office tower is part of a mixed-use project developed by Lincoln that includes a luxury multifamily high-rise and amenities that include a penthouse meeting space with panoramic city views, an on-site gym and pickleball court.
Including its Dallas headquarters, Lincoln operates 35 offices across the U.S. and Europe. This project was completed under the leadership of co-CEOs Clay Duvall and David Binswanger, along with a strategic investment from Stone Point Capital.
KERA and Kaizen Development Partners Announce Development Partnership in Uptown
As part of the partnership, Kaizen will purchase 2.4 acres of KERA’s property on the southern end of the site in Uptown for its new residential and Class AA office towers and will oversee its development, including the construction of KERA’s planned headquarters on the remaining northern end of the property. Since its launch in 1960, KERA has been located at Harry Hines Blvd. in Dallas. The two organizations have signed a Purchase and Sale Agreement, with plans to break ground at the end of 2024. Law firm Vinson & Elkins L.L.P. represented KERA in the transaction. JLL’s Blake Shipley, T.D. Briggs, and Ayanna Jarvis have been retained to lead the leasing efforts for Kaizen’s 400,000 square-foot office tower. This will be accompanied by the residential tower and 20,000 square feet of restaurant and retail space with an expected delivery in 2027.
Ahead of breaking ground in 2024, KERA will temporarily relocate from its current location while a new facility is constructed on their existing site adjacent to the Katy Trail. KERA has selected Corgan to design the new facility, focused on content creation and community engagement. Gardiner & Theobald will serve as project manager. Lucy Billingsley, KERA board member and facilities task force chair, led the process to find the right design partner for the public media organization.
KERA’s new building will also serve as headquarters for its satellite locations. In the last several years, KERA has launched journalism collaborations including leading The Texas
Newsroom, a statewide journalism hub for public media stations; a collaboration with the digital nonprofit news service, The Fort Worth Report; and Arts Access, a partnership with The Dallas Morning News to expand arts journalism in North Texas through the lens of equity and access. KERA also entered into a management agreement with the city of Dallas for classical station WRR and purchased the Denton Record-Chronicle. As part of the operating agreement with the city, WRR will continue to broadcast from its studios in Fair Park for the next several years. Additionally, the Denton Record-Chronicle will remain located in Denton.
KBS and TRS Lease Space at Providence Towers
KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation, and Transwestern Real Estate Services have signed 38,501 square feet in lease agreements with two regional firms at Providence Towers, a 524,143 square-foot Class A office building located at 5001 Spring Valley Road in Dallas. This transaction includes the expansion of Tower Street Insurance from 5,000 square feet to 24,399 square feet and a new 14,102 square-foot lease with Fieldwork. KBS is undergoing a multi-million-dollar renovation of the property that includes various indoor amenity upgrades. In 2021, the firm completed a tenant lounge and café and is currently underway on renovations for an upgraded fitness center, expanded conferencing facility, and common areas. The renovated tenant lounge includes amenities such as lounge with a fireplace, collaborative working space, pool tables, shuffleboard, and a private dining room. Additional Class A amenities at the property include a wine bar and putting green. KBS was represented by Transwestern’s Kim Brooks, Justin Miller, Scott Walker, and Laney Delin in the lease negotiations.
Pillar Commercial and OliveMill Holdings Form Joint Venture to Acquire Pinnacle Point in Southlake
Via a joint partnership, Pillar Commercial and OliveMill Holdings have acquired a three-building, 81,259 square-foot Class A creative office/flex complex in Southlake along S Kimball Avenue in Southlake, Texas. These three buildings are each approximately 27,000 square feet, sitting on more than 7 acres of land. One of the three buildings is move-in ready with multiple office suites, while the other two buildings offer potential tenants the option to finish out as office or light industrial spaces. Amenities include general or creative office suites and light industrial spaces. Parker McCormack with JLL represented the seller on the sale. Security National Bank is providing senior debt financing for the acquisition.
Granite Park 6 Opens in Plano
Commercial real estate investment, development, and management company, Granite Properties and Highwoods Properties, a publicly traded real estate investment trust, announced the opening of Granite Park 6. The 19-story, 422,109-square-foot Class-AA office is located at 5525 Granite Parkway. It is the seventh office development in Granite Park, Granite’s 90-acre, 2.3 million square-foot, mixed-use development.
Granite Park 6 is designed by BOKA Powell with modern interiors by HKS Architects. General contractor, Austin Commercial, kicked off construction on Granite Park 6 in December 2021, wrapping up in October 2022. Granite Park 1–5 are 92 percent leased.
Current Granite Park 3 customer, Stonebriar Commercial Finance, is scheduled to move their two-floor headquarters to Granite Park 6 in December 2023. Amenities in Granite Park 6 include a two-story lobby with curated piano music, a market café, a three-story monumental staircase connecting to the lecture hall; a 150-seat lecture hall offering theater-style seating along with three conference rooms; a sixth-floor landscaped amenity terrace connecting to a fitness studio, indoor customer lounge, and golf simulator; and contactless smart card access throughout the building as well as hands-free entry doors, and hands-free fixtures in restrooms.
Highwoods is Granite’s joint venture equity partner for Granite Park 6, leased by Robert Jimenez, Burson Holman, and Elizabeth Fortado.
World Wide Commercial Brokers the Sale of Crown Plaza
Niveen Widyan, Laura Bailey, and Jerad Rector of Worldwide Commercial brokered the sale of the Crown Plaza portfolio, a three-property, 87,973 square-foot office and flex portfolio in Farmers Branch. Worldwide Commercial represented the seller. The buyer was unrepresented.
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