Goldman Sachs Asset Management has sold 2401 Cedar Springs, a seven-story office property in Uptown Dallas, to Montclif and FCP. The midrise building totals 200,000 square feet and is currently 63 percent leased, according to Commercial Edge. The trade keeps the asset within the institutional ownership universe while bringing in new sponsorship with plans to reposition the property.
Montclif and FCP intend to undertake a multimillion-dollar renovation program at 2401 Cedar Springs. Planned upgrades include a redesigned lobby intended to refresh the building’s arrival experience, a new conference center to support tenant collaboration and meetings, and a renovated lower-level wellness floor. These improvements are aimed at enhancing the existing amenity mix and updating shared spaces within the seven-story property.
Delivered in 1987, 2401 Cedar Springs is located just north of the Crescent, adjacent to 23 Springs and near both the Quad redevelopment and the Katy Trail. The asset sits within a broader environment of trophy office buildings, restaurants, and a variety of corporate housing options and hotels. This concentration of office and hospitality uses positions the property within an established commercial and lifestyle hub in Uptown Dallas.
The building serves as JLL’s Central Region headquarters, providing a significant office presence within the tenant roster. Nuri Steakhouse operates on the ground floor, adding a restaurant component directly within the asset. The surrounding area features additional restaurant offerings and high-end office space, contributing to a walkable, amenity-rich setting for office users.
On the capital markets side, JLL advised Goldman Sachs Asset Management in the disposition. JLL’s Jonathan Napper, Bailey Wood and Rett Daugbjerg represented the seller in the transaction. On the financing side, JLL’s Greg Napper and Blake Tyson sourced the acquisition financing on behalf of the buyers, Montclif and FCP. Following the sale, JLL will continue its involvement at the property through leasing services, with Blake Shipley, James Esquivel and Ashley Curry engaged to handle leasing assignments for the building.
With new ownership, a planned renovation program and established office and restaurant tenancy, 2401 Cedar Springs is positioned for an updated role within the Uptown Dallas office market. The combination of existing occupancy, institutional sponsorship and targeted capital investment underscores ongoing investor engagement with well-located office assets in this submarket.
