{"id":1004767073,"date":"2025-08-01T01:43:30","date_gmt":"2025-08-01T09:43:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004767073"},"modified":"2025-08-01T05:48:43","modified_gmt":"2025-08-01T13:48:43","slug":"cousins-buys-dallas-office-asset-for-218m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/","title":{"rendered":"Cousins Buys Dallas Office Asset for $218M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1188d2cb5fc&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"409\" height=\"512\" data-attachment-id=\"1004767078\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/the-link-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/The-Link.jpg\" data-orig-size=\"409,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Link\" data-image-description=\"&lt;p&gt;Exterior shot of The Link, a 292,000-square-foot office building in Dallas.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Class A, 25-story office building is located in Uptown Dallas. Image courtesy of Yardi Research Data&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/The-Link.jpg?w=409\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/The-Link.jpg?w=409\" alt=\"Exterior shot of The Link, a 292,000-square-foot office building in Dallas.\" class=\"wp-image-1004767078\" style=\"width:auto;height:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/The-Link.jpg 409w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/The-Link.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 409px) 100vw, 409px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The Class A, 25-story office building is located in Uptown Dallas.<em> Image courtesy of Yardi Research Data<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Cousins Properties has paid $218 million for The Link, a 292,000-square-foot lifestyle office building in Dallas, to Kaizen Development Partners. Newmark brokered the transaction, the largest of its kind in the market this year so far.<\/p>\n\n\n\n<p>At the time of sale, the high-rise was 93.6 percent leased with a weighted average lease term of more than nine years. The tenant roster includes Houlihan Lokey, PMG and McGuireWoods.<\/p>\n\n\n\n<p>The buyer financed the acquisition using excess proceeds from its unsecured senior note issuance during the second quarter, along with proceeds from the settlement of previously forward-issued common shares.<\/p>\n\n\n\n<p>Kaizen Development Partners completed the property in 2021 using funds from a $128.3 million construction note originated by Goldman Sachs in April 2020, according to Yardi Research Data. At the time of the sale, the asset was subject to a $143 million loan provided by JPMorgan Chase in 2023, with a maturity date set for 2028, the same source shows.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/worth-the-risk-value-investors-chase-office-deals\/\">Worth the Risk: Value Investors Chase Office Deals<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located at 2601 Olive St. in the Uptown submarket, The Link is close to interstates 35E and 345, as well as 2 miles from downtown Dallas. DFW International Airport is 17 miles away, while downtown Fort Worth, Texas, is within 36 miles west.<\/p>\n\n\n\n<p>The transit-oriented, 25-story tower has floorplates averaging 24,938 square feet and more than 9,300 square feet of retail space. The property includes two ground-floor restaurants, hotel suites and a full amenity level featuring a fitness center, tenant lounge and conference room, along with an outdoor terrace.<\/p>\n\n\n\n<p>Newmark Vice Chairmen Chris Murphy, Robert Hill and Gary Carr, Director Austin Sheahan, together with Executive Vice Chairman &amp; Head of International Capital Markets Alex Foshay, arranged the transaction on behalf of the seller.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-dallas-office-sales-activity-remains-steady\">Dallas office sales activity remains steady<\/h2>\n\n\n\n<p>Dallas\u2019 office investment volume year-to-date as of June clocked in at $872 million, ranking in the top 10 markets nationally, according to the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/office-report-maturities-rise-as-vacancies-intensify\/\">Yardi Matrix office report<\/a>. However, assets in the metro traded for $163 per square foot on average, below the $189 national figure.<\/p>\n\n\n\n<p>In May, <a href=\"https:\/\/www.commercialsearch.com\/news\/skywalker-buys-233-ksf-dallas-office-asset\/\">Skywalker Property Partners purchased<\/a> The Crossings I, a 232,541-square-foot office building 13 miles away from downtown Dallas. The 10-story building last underwent renovations in 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the largest transaction in the metro so far this year.<\/p>\n","protected":false},"author":3355,"featured_media":1004767093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21783,21742,21747,51973],"tags":[35874,34767,50999],"class_list":["post-1004767073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-investment","category-latest","category-office","category-southwest","tag-cousins-properties","tag-kaizen-development-partners","tag-newmark"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cousins Buys Dallas Office Asset for $218M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Cousins Properties has paid $218 million for The Link, a lifestyle office building in Dallas, to Kaizen Development Partners.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cousins Buys Dallas Office Asset for $218M\" \/>\n<meta property=\"og:description\" content=\"Cousins Properties has paid $218 million for The Link, a lifestyle office building in Dallas, to Kaizen Development Partners.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-01T09:43:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-01T13:48:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/The-Link-edited-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"409\" \/>\n\t<meta property=\"og:image:height\" content=\"307\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/\",\"name\":\"Cousins Buys Dallas Office Asset for $218M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/The-Link-edited-1.jpg\",\"datePublished\":\"2025-08-01T09:43:30+00:00\",\"dateModified\":\"2025-08-01T13:48:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Cousins Properties has paid $218 million for The Link, a lifestyle office building in Dallas, to Kaizen Development Partners.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cousins-buys-dallas-office-asset-for-218m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/The-Link-edited-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/The-Link-edited-1.jpg\",\"width\":409,\"height\":307,\"caption\":\"The Class A, 25-story office building is located in Uptown Dallas. 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