Record-Breaking Office Tower Sale in Uptown Dallas
An Uptown Dallas office tower has sold for $218 million — a new record for 2025. Atlanta-based real estate investment trust Cousins Properties purchased The Link at Uptown, a recently completed Class AA office tower at 2601 Olive St.
The Transaction
Newmark Group Inc. vice chairmen Chris Murphy, Robert Hill and Gary Carr, and director Austin Sheahan arranged the transaction on behalf of the seller, Kaizen Development Partners. Newmark executive vice chairman and head of international capital markets Alex Foshay also supported the transaction.
Significance of the Sale
The transaction marks a new high sales price paid in the Dallas-Fort Worth market this year. It eclipsed the previous high mark set weeks ago by the Newmark-led sale of Sterling Plaza, according to Newmark’s market research. The Link at Uptown sale is the fifth-largest office transaction in the Dallas-Fort Worth market since 2020, said Steve Triolet, senior vice president of research and market forecasting at Partners Real Estate.
The Link at Uptown Tower
Built in 2021, the 25-story Link at Uptown tower covers 292,000 square feet. Notable tenants include Houlihan Lokey, PMG and McGuireWoods. The tower is a significant addition to the Uptown Dallas area, providing high-quality office space for businesses.
Upcoming Projects in Uptown
The sale comes as Kaizen Development Partners begins work on another Uptown project, Chalk Hill. The firm began abatement and demolition proceedings on the old North Texas Public Broadcasting building at the corner of Wolf Street and North Harwood Avenue in June. The luxury mixed-use project will include 400,000 square feet of office space, a 217-room hotel, 61 luxury condo units and retail, food and beverage components.
Impact on the Dallas Office Market
Vacancies in Dallas’ office market experienced their first drop in five years earlier this summer thanks in large part to the Uptown boom. Nearly three-quarters of the metro’s current 2.7-million-square-foot construction pipeline is in Uptown. This indicates a strong demand for office space in the area and a positive outlook for the market.
Market Strength
“This transaction is a resounding endorsement for Dallas-Fort Worth and a clear indicator of the market’s strength,” Murphy said in a statement. The sale of The Link at Uptown tower demonstrates the confidence of investors in the Dallas-Fort Worth market and its potential for growth.
Conclusion
The sale of The Link at Uptown tower for $218 million sets a new record for 2025 and demonstrates the strength of the Dallas-Fort Worth office market. The transaction is a significant endorsement for the market and indicates a positive outlook for the area. With upcoming projects like Chalk Hill, Uptown Dallas is expected to continue to grow and attract businesses and investors.
Frequently Asked Questions
Q: What is the significance of the sale of The Link at Uptown tower?
A: The sale of The Link at Uptown tower for $218 million sets a new record for 2025 and demonstrates the strength of the Dallas-Fort Worth office market.
Q: Who purchased The Link at Uptown tower?
A: Atlanta-based real estate investment trust Cousins Properties purchased The Link at Uptown tower.
Q: What is the size of The Link at Uptown tower?
A: The Link at Uptown tower covers 292,000 square feet and has 25 stories.
Q: What is the current state of the Dallas office market?
A: Vacancies in Dallas’ office market experienced their first drop in five years earlier this summer, thanks in large part to the Uptown boom. Nearly three-quarters of the metro’s current 2.7-million-square-foot construction pipeline is in Uptown.
