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March 5, 2008
 
       
 
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UNITED IT
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With a name like Lincoln, it's appropriate they believe in uniting.  And that's just what they did with their property at 1030 15th Street: a complicated melding of two separate structures—existing Class C office space and parking deck—into one fancy re-skinned building. Lincoln Property Co's DC head, Paul Price, likens the transformation to completing a jigsaw puzzle. And though they're still working on a few last punch-list items, the 325k SF Class A product they've dubbed "The Executive Building" is already under contract to a multi-national investment firm, set to close in 30 days.

 

We hereby bestow a Bisnow award for most impressive conference room view (see Capitol in background), as Paul, right, and colleague Ed Gilpin show us a rendering of 1030. (Sorry about that flash reflection, but doesn't it add a star quality to the picture?) They're now moving on to other "easier" projects like Lincoln Park, their 100 acre site that was part of the old EDS Campus off the Dulles Toll Road. 300k SF of office was recently completed with another 200k under construction, both developed with Goldman Sachs. They've been busy rezoning the rest of the property; the next phase (which breaks ground in '09) will include 1250 apartment units, 120k SF of retail, and 600k SF of office. 

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Though it looks like we superimposed Paul and son Warren in front of the Capitol, this is the rooftop view from their 101 Constitution Ave digs, which they manage for the US Brotherhood of Carpenters and Joiners. The offices also happen to be a few floors up from Charlie Palmer's, a favorite lunch haunt of Paul's. The Texas-native came to the area 21 years ago to oversee development of industrial buildings for the Dallas-based Lincoln.  Now the area boasts 250 employees (3000 nationally) including Warren, who works as a financial analyst. In the metro area, Lincoln manages over 20M SF of mostly office. On the landlord rep side, they have a portfolio of about 17M SF here.

 

When they're not actually pouring concrete and building things—they're thinking about it. Lincoln's Brandon Ernst, Bari Nichols, and Doug McLearn stand in front of the original David Stainback painting of a cement truck that hangs in Paul's office.  Lincoln's development pipeline includes over three million SF valued at over $500M.

 
 
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