The Link at Uptown, a recently delivered Class AA office tower developed by Kaizen Development Partners in Dallas, has been acquired for $218 million by Atlanta-based Cousins Properties (NYSE: CUZ), Newmark Group Inc. (Nasdaq: NMRK) announced in late July.

The purchase price marked the highest office sale in Dallas-Fort Worth so far in 2025. It came less than three weeks after Newmark set the previous high with the sale of Sterling Plaza, which the firm called a “high watermark” at the time.

Built in 2021, the 25-story, 292,000-square-foot tower features panoramic views and an amenity floor that includes a customer lounge, fitness and conference centers, as well as an outdoor terrace with an activity lawn.

All of the building’s leases were signed post-pandemic, which Newmark said signals tenant confidence in the market and offers “significant opportunity for future rent growth.”

Tenants span multiple industries and include firms such as Houlihan Lokey, PMG, and McGuireWoods.

Over the past nine months, Cousins has acquired more than $1 billion in what it calls “lifestyle office properties,” a term referring to Class AA buildings with walkable urban locations, high-end amenities, and strong tenant retention.

Colin Connolly, president and CEO of Cousins Properties said the company’s strong balance sheet gives it flexibility to pursue strategic acquisitions in top-tier submarkets.

“We are excited to grow our presence in Dallas, and particularly the dynamic Uptown submarket, with the acquisition of The Link,” Connolly said in a statement. “The acquisition of The Link offers another compelling growth opportunity that is immediately accretive to earnings while enhancing our portfolio and geographic concentration.”

Cousins said the acquisition will be funded through a mix of capital sources, including proceeds from a recent senior note offering and the settlement of common shares issued under its ATM program.

Newmark, a commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, arranged the sale.

Vice Chairmen Chris Murphy, Robert Hill, and Gary Carr and Director Austin Sheahan arranged the transaction on behalf of the seller, Kaizen Development Partners.

“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 outcome achieved here underscores investor conviction for best-in-class office and is a testament to the exceptional quality of the product delivered by our client, Kaizen.”

JLL to lead office leasing at The Link

Following the acquisition, Cousins tapped JLL to market the 25-story tower for lease. JLL Senior Managing Directors Blake Shipley and Trevor Franke, along with Executive Vice President Gini Rounsaville, will handle office leasing onsite.

“Our team is proud to have been involved with the Link since its inception and thrilled to continue into its next chapter with Cousins,” said Shipley. “The Link’s namesake is magnified as it sits between Uptown’s core and emerging financial districts.”

The story was updated to include information about The Link’s leasing team.

Don’t miss what’s next. Subscribe to Dallas Innovates.

Track Dallas-Fort Worth’s business and innovation landscape with our curated news in your inbox Tuesday-Thursday.