Read the February 7th Allmanac for the latest news in Dallas real estate!

Dallas: Construction will begin this month on Lincoln Knox, a $39 million 6 story residential tower with 165 units, to be built at 4501 Cole Avenue, just south of Knox Street. The tower will include a Trader Joe’s specialty store and other comparable retail. In Preston Center east, the 8235 Douglas office tower has been sold for around $37 million to Transwestern, who plan to remodel the 13 story, 162,000 square foot tower. Office vacancy in Preston Center is 8%. Transwestern is also planning to develop a multistory condominium project at the corner of Preston Road and Northwest Highway, replacing the town homes built in the 50’s by Hal Anderson.