Cross Ocean, Lincoln Reposition The Colonnade in Addison

The Colonnade, a three-tower, 1.08 million-square-foot office campus at 15301-15305 North Dallas Parkway in Addison, has been acquired out of receivership by Cross Ocean Partners and Lincoln Property Company, which are repositioning the 12.4-acre property. Initial improvements are already underway, with the first phase of upgrades delivering throughout 2027.

The buyers acquired the campus after prior owner Fortis Property Group defaulted on a $223 million loan in 2024. Newmark represented the seller, a partnership between Trigild and CWCapital. The roughly $100 million repositioning program is seeking support through Addison's Office Amenity Grant Program.

A three-story, 70-foot-high barrel-vaulted glass atrium connects the towers. Planned amenities include a fitness center, conference facilities, an atrium lounge, tenant lounges, outdoor gathering spaces, a pickleball court, a golf simulator, expanded dining and an artisan coffee shop. The campus was 59% leased as of August 2026.

Lincoln Property Company will handle property management, with Jake Young, Christian Munoz, and Hudson Dozier overseeing leasing.