LBJ Corridor Benefits from I-635 Upgrade

DALLAS—Designed as a multi-tenant office, Brinker International Inc. moved in shortly after the building at 6820 LBJ Freeway was built in 1983 and went on to occupy the entire facility. It later acquired the asset and has maintained it during that time.

In anticipation of its upcoming move, Brinker is putting its longtime Dallas headquarters on the market. Brinker will move to a new Cypress Waters build-to-suit in the spring of 2019 and will do a sale-leaseback until its departure. Brinker is the casual-dining restaurant company behind Chili's Grill & Bar and Maggiano's Little Italy.

The property offers a multi-use redevelopment opportunity. The package includes a four-story 110,000-square-foot office building and adjacent three-story covered parking garage on more than 7.5 acres of prime land. The urban infill site offers exceptional visibility along one of the state's most-trafficked highways, with traffic counts of more than 350,000 vehicles per day.

Brinker has selected Cushman & Wakefield to oversee the sales process. Rick Hughes, executive managing director, Maureen Kelly Cooper, senior managing director, and Robbie Baty, senior director, are marketing the property on behalf of Brinker.

“Since the LBJ Express has been completed, property values in the area have dramatically increased,” Cooper said. “The corridor between Hillcrest Road and the Dallas North Tollway is seeing a burst of activity, with major renovation and redevelopment projects underway, including Lincoln Centre, the Galleria and Midtown.”

The Brinker headquarters site is an urban oasis with natural topography, an adjacent creek, an abundance of trees and wide open green space. It offers plenty of room for expansion of up to an additional 206,000 square feet or a complete redevelopment that totals 315,000 square feet. Three entry points to the site ensure access.

The property sits within one of the most desirable areas of Dallas-Fort Worth, in the middle of the Preston Trails and Preston Hollow neighborhoods. Currently, nearly 400,000 people live within a 5-mile radius of the property, earning an average of $96,900. Nearly 206,000 work within that same 5-mile radius.

“The LBJ corridor, especially between Preston Road and the Dallas North Tollway, is seeing a renaissance in the wake of improvements to Interstate 635, which has become one of the most efficient roadways in North Texas,” Cooper tells GlobeSt.com. “The LBJ corridor also benefits from its location as the midway point between the Plano/Legacy area and Uptown and downtown Dallas. With the improved access, more tenants are wanting to be based in this centrally located part of town.”