Business & Investment

Lincoln Property Healthcare Arm Relocates Dallas Headquarters

Wangren Lakes

This property is owned by ICMA sset Management. According to CommercialEdge data, ICM acquired the asset in 2020 and raised the purchase with a $ 21.6 million loan from Argentic.

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Built in 1981, the 10-story asset has a 1,000-square-foot retail store on the ground floor and 500 parking spaces. According to CommercialEdge, the tenant roster includes Camelot Strategic Marketing and Media, DFS Advisors, Texas Health Resources, AARP, The Lung Institute, Dallas Surgical Group and more.Mark Dickenson Lincoln Property Co., Ltd. is a property leasing agent.

Located on approximately 4 acres of 8140 Walnut Hill Lane, One Glen Lakes is close to US Route 75, about 3 miles south of Interstate 635, and less than 10 miles from downtown Dallas. Lincoln Harris’ current location is 6688N. Also known as Three Energy Square on the Central Expressway, within 3 miles of the new location. Three Energy Square is owned by USAA Real Estate.

Market challenges

The Metroplex office market remained fairly active last year, despite headwinds from the pandemic recession. According to data from the Bureau of Labor Statistics, the employment sector using metro offices recorded an increase of about 3.0% in 2020, but the national average decreased by 3.4%.

However, the state is still recovering from the recent winter storm, and the metro faces new challenges. This is also reflected in the physical office occupancy.Dallas, Austin, Houston Was a national leader The three metropolitan areas of Texas have faced the most extreme natural challenges since Hurricane Harvey in 2017, resulting in very low physical office occupancy last week after the holiday season. .. According to Kastle Systems data, Dallas office occupancy was 4.3. Austin offices were more than 99% vacant last week, compared to 5.4% in Houston.

Lincoln Property Healthcare Arm Relocates Dallas Headquarters Lincoln Property Healthcare Arm Relocates Dallas Headquarters

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