This past year has been transformative for Lincoln Property Co. as it brought in a private equity partner—Stone Point Capital—for the first time and named Clay Duvall and David Binswanger as co-CEOs. “We’re taking Lincoln, a company with a storied legacy, into the next era,” Duvall says. “I couldn’t be more grateful for where we are as a company, our team, and where we’re headed.”
Additionally, Lincoln unveiled a new global HQ in 2023 at 8111 Douglas Ave., 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.
In Duvall’s extended 2024 Dallas 500 Q&A he talks about the time he played for the U.S.’s basketball team in 1992 in Sydney, Australia, provides his future forecast for Lincoln, and more.
Birthplace: Dallas
Education: The University of Texas at Austin (MBA, BA)
First Job: “I was a runner in the mailroom for Lincoln Property Company when I was 14. Very early on, I learned that it doesn’t matter what you’re doing or what your role is, you need to show up early, ready to go and get after it.”
Best Advice: “Starting out, I was told it’s important to be the first one in and last one to leave, and that there is always going to be someone smarter than you. Learn to outwork everyone and be grateful for the people around you. Over the years, I’ve found this to be a good approach to both work and life.”
Dinner Party: “I would have loved the chance to have dinner with Trammell Crow and Mack Pogue when in their prime and learn from all of their experiences. They were true legends in the business and in many ways made Dallas what it is today.”
Destinations of Choice: “Out of the places that I have spent time, London is my favorite city in the world. It’s incredibly well designed for a major city—proper scale, great pocket parks, and wide sidewalks. It’s very multicultural which creates an exciting environment.”
I Collect: “I collected baseball cards as a kid, but I don’t collect anything as an adult. My wife would say that I collect white golf shirts.”
Hobby/Passion: “I have two passions: golf and Texas Longhorns athletics—all sports, not just football.”
Industry Change: “I love commercial real estate, so I’m not sure I would change anything—the people are the best of the best, especially here in Dallas. I’m very blessed to work in this industry and have made wonderful friends through my experiences.”
Local Fare: “The best hole in the wall in Dallas is Ojeda’s on Maple Ave.—they have the best bean and cheese nachos.”
Guilty Pleasure: “Golf”
Fun Fact: “I played basketball representing the United States in Sydney, Australia in 1992. Apparently not many people tried out.”
Go-to Adviser: “My father, Bill Duvall. I’ve been extremely blessed to have one of the great real estate developers of the last several decades as both a father and mentor.”
Toughest Challenge: “The past year has been transformative for Lincoln Property Company as we brought in a private equity partner for the first time with Stone Point Capital. I took on the position of Co-CEO along with my long-time colleague and friend David Binswanger. We’re taking Lincoln—a company with a storied history and legacy—into its next era, and there is nothing I’ve experienced that’s more exciting and challenging in a good way. I couldn’t be more grateful for where we are as a company, our team and where we’re headed.”
First Car: “My first car was an ’87 Chevy Suburban.”
A Better DFW: “DFW is absolutely the best market in the United States. The diversity of industry is unlike anywhere else in the country and the people are incredibly giving of their time, from small businesses to major corporations. We’re all very lucky to be doing business here.”
Alternate Reality: “If I wasn’t in commercial real estate, I’d probably be doing something in private equity or sports.”
Bucket List: “I don’t really have a bucket list, but I do love to travel. I went to Scotland with my son for a golf trip which was incredibly special and fun.”
Key Strategies: “Delegation. You have to have people around you who are smart and hardworking, and then you have to trust them and get out of their way. My job is to empower them to do what they do best and be there to provide guidance when they need it.”
Future Forecast: “I’m excited to see where Lincoln Property Company is going over the next 5 to 10 years. With the partnership that I have with Co-CEO David Binswanger and the great team we have at Lincoln, the possibilities know no bounds.”
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