Lincoln Property, Cross Ocean Acquire 1,059,000 SQFT Colonnade Office Campus in Addison Out of Receivership, Plan $100MM Repositioning

A joint venture of Dallas-based Lincoln Property Co. and Cross Ocean Partners has taken The Colonnade, a three-tower office campus on the Dallas North Tollway in Addison, out of receivership following Fortis Property Group's default on a $223 million loan, and the new owners say they will put $100 million into repositioning the 57 percent occupied complex.