JLL Capital Markets closes sale of 1.74-acre redevelopment site in Dallas

 JLL Capital Markets arranged the sale of Monticello West, a 1.74-acre redevelopment site with multiple potential development opportunities in Dallas, Texas.

JLL worked on behalf of the seller, Lakemore LCS Leasing MW LLC. The buyer was McKinney Webb Holdings, LLC.

Located at 5114 McKinney Ave., this unique property is right in the cultural heart of Dallas, conveniently positioned between Highland Park and the vibrant Knox-Henderson Avenue corridor. The site offers direct access to major pedestrian and vehicular thoroughfares, and is surrounded by upscale residential development, popular entertainment venues and dining establishments. Additionally, the site is just 300 feet from the popular Katy Trail, a 3.5-mile recreational path that serves as a central component of North Texas’ urban living experience.

Monticello West presented a unique opportunity for various development options, including multifamily, office and hotel use, thanks to its current PD 193 LC zoning. With a maximum height permitted to 240 feet and an approved floor area ratio of 4:5:1, the site offers significant flexibility for the next owner.

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Director Jonathan Carrier, Senior Managing Director Michael Swaldi and Associate Adam McDaniel.