In anticipation of its upcoming move to Cypress Waters, Brinker International Inc. is putting its longtime Dallas headquarters on the market. The leading casual-dining restaurant company behind Chili’s® Grill & Bar and Maggiano’s Little Italy® has selected Cushman & Wakefield to oversee the sales process.
The property offers an outstanding 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 at 6820 LBJ Freeway offers exceptional visibility along one of the state’s most-trafficked highways, with traffic counts of more than 350,000 vehicles per day.
Cushman & Wakefield’s 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.”
Designed as a multitenant office, Brinker moved in shortly after the building was built in 1983 and went on to occupy the entire facility. It later acquired the asset and has taken exceptional care of the property throughout its tenancy. Brinker will move to a new build-to-suit in the spring of 2019 and, thus, will do a sale-leaseback up until its departure.
The Brinker headquarters site is an urban oasis with beautiful 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 total 315,000 square feet. Three entry points to the site ensure easy 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 five-mile radius of the property. They earn an average of $96,900. Nearly 206,000 work within that same five-mile radius.