DALLAS, TEXAS – September 17, 2018 Lincoln Property Company announced it has assumed leasing and property management of The Addison, a 214,000 SF, 11-story, Class-A office building located on the Dallas North Tollway in Addison that was recently acquired by TerraCap Management LLC.
The Addison is located in the center of activity in the Lower Tollway submarket/Far North Dallas, within walking distance to numerous shops and restaurant options, including Addison Walk, the Village on the Parkway and Beltline Road. The Addison boasts an on-site tenant lounge with an outdoor patio, a fully-equipped fitness center with locker rooms, and abundant structured parking. The building is more than 80% leased and its major tenants include Rexel Holdings USA, JE Dunn Construction, Robert Half Technologies and Tri-Delta.
“The Addison is an absolute jewel of a property. It offers a unique, walkable urban infill location on the Dallas Tollway, signature identity and sweeping views of North Dallas. We’re thrilled to take on this new project with TerraCap” said Mark Dickenson, an Executive Vice President in Lincoln Property Company’s Commercial Office Group and Dallas office.
The Addison will be leased by Jake Young, Worthey Wiles and Mark Dickenson of Lincoln Property Company.
TerraCap Management, LLC is a commercial real estate investment manager focused on value-add real estate acquisitions in the Southern U.S. TerraCap considers thematic factors such as business formation, employment growth and population growth on a market-by-market basis, as most metros and submarkets have different economic-based industries and therefore move through their economic cycles differently. TerraCap makes moderate strategic overweighting or underweighting to markets, depending on the specific economic drivers influencing supply and demand. TerraCap has been in operation since 2008 with offices located in Estero, FL, Tampa, FL, and the Atlanta, GA metro area. As operators, TerraCap believes it can make decisions more efficiently while leveraging expertise from property to property.
About Lincoln Property Company
Lincoln Property Company’s commercial group has developed more than 130 million square feet of commercial space and currently manages over 170 million square feet of space across the United States. LPC is one of the largest and most diversified real estate companies in the United States, offering a comprehensive suite of value-added services for its clients, including asset and property management, construction management, development and build-to-suit services, investments / acquisitions, and landlord representation. LPC is highly regarded within the real estate community and among its clientele: investors, lenders, tenants, and owners of commercial real estate.