Demo begins on future site of The Link at Uptown in Dallas
Developers announce strategic partners for Class AA office project
DALLAS, April 4, 2019 – Kaizen Development Partners announced today they have started demolition work on The Link at Uptown. BOKA Powell is the architect for the project and Balfour Beatty is serving as the general contractor.
Kaizen Development Partners also announced that HFF’s De’On Collins has arranged for Broad Street Real Estate Credit Partners III, an investment fund managed by the Merchant Banking Division of Goldman Sachs, to provide the debt financing for the highly anticipated 25-story, 300,000 square foot, Class AA office building. JLL’s Blake Shipley and Thirty-Four Commercial’s Sarah Hinkley are co-leading the marketing and leasing efforts for the property.
“Uptown is not only one of the most vibrant submarkets in the region, but one of the most vibrant in the US,” said Derrick Evers, Managing Partner/ Chief Executive Officer, Kaizen Development Partner. “Its authentic blend of premier location, amenities and distinctive presence makes it extremely attractive for perspective office tenants.”
Recent leasing activity downtown, paired with previous waves of new office construction and deliveries, sets the stage for the next wave of office development. Opting to build speculative product allows developers to attract perspective tenants by delivering product quicker.
According to JLL Research, since the start of the current cycle, 3.2 million square feet of new office product have delivered in Dallas’ Uptown and the CBD with 2.5 million square feet leased. Another 400,000 square feet of leasing will virtually “stabilize” these properties at 90 percent occupancy.
The Link at Uptown is scheduled to deliver Fall 2021.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
About Kaizen Development Partners
Kaizen Development Partners (KDP) is a commercial real estate developer specializing in office, mixed- use, and healthcare developments. KDP brings unencumbered creativity, marketplace knowledge and strategic vision to the built environment. Over the past ten years alone, the principals at KDP have developed approximately 2 million square feet of institutional quality projects valued close to $1 Billion. KDP is rooted by senior-level principals committed to delivering extraordinary value and service through innovative thought leadership, effective market positioning, conservative risk management, and hands-on project management. For further information, visit www.kaizendp.com.
About Thirty-Four Commercial
Founded in 2017 by Sarah Hinkley, Thirty-Four Commercial, Inc. is a Dallas based commercial real estate brokerage firm. Thirty-Four Commercial focuses on Class A office leasing. Combining their relationships in the local market with their expertise in office leasing, Thirty-Four Commercial provides expanded opportunities for their business partners and clients. From marketing a building, finding the ideal corporate location to representing their clients in all facets of a lease negotiation, they are engaged in each step of the process. Delivering focused resilient efficiency, Thirty-Four’s services put the client first. For more information about Thirty-Four Commercial Inc., please visit www.thirty-four.com.