Lincoln Square, an iconic first-generation regional lifestyle center located in Arlington, is on the market.
Cushman & Wakefield announced Oct. 29 that the commercial real estate services firm has listed the center that is currently 72% leased.
Chris Harden and Kris Von Hohn, based in Cushman & Wakefield’s Dallas and Houston offices, have been retained to lead the sales efforts, along with the firm’s Beth Lambert and Diego Arroyave to arrange debt and equity financing. Kevin McGlaun of M4 Realty Advisors is leading community development and planning discussions.
“Lincoln Square is exceptionally well positioned for redevelopment and/or a lease-up strategy that may include additional density with a mix of uses, open space and walkable amenities,” Harden said. “This is a generational opportunity to create the next generation, high-density, mixed-use retail destination in the third largest city in the Metroplex, and there is certainly a void for such a place.”
Built in 1983 as a regional lifestyle center, the property consists of more than 472,000 square feet on 45 acres.
Located at 1500 N. Collins St., the property is shadow anchored by the $1.3 billion AT&T Stadium, $1.2 billion Globe Life Field, Six Flags Over Texas, Hurricane Harbor, and the largest eSports stadium in the nation as well as Texas Live!, a destination that combines entertainment, restaurants, and hotels within an upscale, pedestrian-oriented, mixed-use environment.
“Lincoln Square is a very important asset within Arlington, sitting at the most prominent gateway to our multi-billion-dollar world-class entertainment district,” said Jim Ross, Mayor of Arlington. “The City of Arlington looks forward to working with potential buyers to unlock the extraordinary potential of Lincoln Square.”
Dubbed the “Entertainment Capital of Texas,” the District attracts more than 14.5 million visitors per year. Since 2009, more than $4 billion has been invested in the District. The $550 million Arlington Convention Center and Loews Hotel, now under construction, will bring another 888 hotel rooms and 216,000 square feet of exhibit space, and the $185 million National Medal of Honor Museum is targeted for completion in 2024.