May 4, 2022 9:30 AM
Newmark announces the sale of Lincoln Legacy Two, a recently renovated, 130,371-square-foot office property in Dallas/Fort Worth’s premier Legacy submarket. Newmark Vice Chairmen Chris Murphy, Robert Hill and Gary Carr and Director Chase Tagen represented the seller, a partnership including Dallas-based Pillar Commercial. Newmark Director Josh Francis facilitated the financing for the buyer, Larson Capital Management.
Located at the southeast corner of the Dallas North Tollway and Tennyson Parkway in Plano, Texas, Lincoln Legacy Two is adjacent to the vibrant Legacy Town Center and The Shops at Legacy. Built in 2014, Lincoln Legacy Two comprises a five-story office building with a sophisticated lobby and tenant lounge, fully equipped fitness center and four-level parking garage with a ratio of 4:1,000 square feet. Lincoln Legacy Two is 90 percent leased to a diverse base of tenants.
“Lincoln Legacy Two is one of the premier assets located in one of the nation’s fastest-growing submarkets,” said Hill. “This transaction reflects the incredible demand we are seeing for best-in-class assets in high-growth submarkets across the state of Texas.”
Lincoln Legacy Two’s highly amenitized location features walkable access to best-in-class dining, shopping, entertainment and residences at The Shops at Legacy and Legacy West Urban Village. With immediate access to the Dallas North and Sam Rayburn tollways, Lincoln Legacy Two is within 20 minutes of Dallas/Fort Worth International Airport and Dallas Love Field.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of nearly $3.1 billion for the twelve months ending March 31, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 6,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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