JLL Capital Markets arranged the successful sale of 3601 Cedar Springs, a 1.28-acre development site with multiple potential uses in Dallas, Texas.
JLL worked on behalf of the seller, Bill Y Bob Partners LLC. The buyer was KC Turtle Creek Owner LLC.
Cedar Springs’ land assemblage is situated in the prestigious Turtle Creek/Oak Lawn neighborhood near the southernmost portion of Cedar Springs Road. The site offers exceptional accessibility to some of the most highly coveted amenities in the Dallas area, including historic Turtle Creek Park just one block away, the Katy Trail two blocks away, and more than 200 food and beverage options throughout the Turtle Creek/Uptown area.
The property presented a rare opportunity for various development options, including multifamily, office and hotel use, thanks to its current PD 193 (O-2) zoning. With a maximum height permitted to 240 feet and an approved floor area ratio of 4.5:1, the site offers significant development flexibility for the new owner.
The location benefits from strong area demographics, with a walk score of 85, an average household income of $134,091 within one mile and a population of 47,549 within the same radius.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Director Jonathan Carrier, Senior Managing Director Michael Swaldi, Executive Chairman Jody Thornton and Associate Adam McDaniel.
