DALLAS - The Dallas Symphony Foundation has sold a piece of its downtown real estate holdings in the Dallas Arts District to Dallas-based development firm Lincoln Property Co., which plans to build a 23-story office tower on the high-profile tract at the southeast corner of Pearl St. and Woodall Rodgers Fwy.
The foundation sold the land for $7.2 million, after holding onto the land for 20 years after originally buying it in 1995 for $1.5 million.
Plans for the proposed 23-story, 250,000-sf office tower include a large restaurant, fitness center, conference center space and amenity deck overlooking Klyde Warren Park.
The foundation is retaining some review and approval privileges on the design and concept of the development and will benefit from having after hours use of 600 parking spaces being built as part of the project.
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