It has been Lincoln Plaza since it was built, nearly 30 years ago. But going forward, the 45-story office building in downtown Dallas will be known as Ross Tower. The change was made to emphasize the property’s location, said Dan Dubrowski, partner at The Lionstone Group, investment adviser for the building’s state pension fund owner.
“The core of downtown and its amenity base has shifted north, with the recent completion of the Dallas Arts District and Klyde Warren Park,” he said in a statement. “We believe the name Ross Tower better highlights the building’s excellent location.”
Over the past few years, the owner has made $25 million in property improvements, including a comprehensive lobby renovation and new tenant amenities. It also added parking, with the acquisition of a garage at 411 N. Akard Street. The office tower sits at the corner of Akard and San Jacinto, but some amenities, including Dakota’s Steakhouse and the new parking garage, extend to Ross Avenue.
“We view Ross Avenue as a micro-district in the CBD,” said Mike Silliman with PegasusAblon, which handles asset management and agency leasing. “The buildings along Ross are going to perform better than the rest of the market, as a result of the proximity to the Arts District, Klyde Warren Park, and walkable amenity base. Renaming the building Ross Tower aligns with our location and belief in the market.”
The 1.1 million-square-foot skyscraper is just under 70 percent leased. Tenants include Munsch Hardt Kopf & Harr, Towers Watson, Fireman’s Fund, and the Dallas Regional Chamber.
Transwestern Property Co. provides property management services for Ross Tower and 411 Akard St., which is being redeveloped.