RAMROCK Real Estate, together with Lincoln Property Company and Willow Bridge Property Company, has obtained financing for the 8300 Douglas mixed-use development at Preston Center. The project is planned as an integrated environment combining office, residential and retail space connected by landscaped pedestrian routes.
The development program calls for a 12-story Class AA office tower totaling approximately 300,000 square feet. Alongside the office component, plans include a 17-story luxury residential tower designed to deliver 147 units. The project will also feature curated ground-floor retail and restaurant areas, along with outdoor amenities intended to support both tenants and the surrounding community.
Retail and dining uses will be concentrated in roughly 24,000 square feet of ground-floor space. Above the project, a 35,000-square-foot rooftop park is envisioned as a signature element, adding activated open space to the mixed-use environment. The various uses are planned to be linked by richly landscaped walkways, underscoring a pedestrian-focused site plan.
The venture has been designed by HKS Architects, which is providing the architectural vision for both the office and residential towers, as well as the project's public and shared spaces. The design aims to integrate the office, residential and retail components into a cohesive destination within Preston Center.
Leasing momentum at the office tower is already notable. A recently executed lease with Fifth Third Bank for its regional headquarters has brought the office component to more than 80% pre-leased prior to delivery. The bank's commitment establishes it as a key tenant within the project and provides a meaningful occupancy base for the office tower.
On the capital markets side, JLL Capital Markets arranged both the joint venture equity and the construction financing for the project, securing the capital stack from a single capital source on behalf of RAMROCK. The JLL team leading the assignment included Mark Gibson, Jim Curtin, John W. Rose, Clint Coe, Ryan Pollack and Campbell Swango. Specific financial terms, including loan size and structure, were not disclosed.
The combination of substantial pre-leasing to a regional headquarters tenant, a diversified mix of uses and fully arranged construction capital positions the 8300 Douglas project to move forward as a new mixed-use asset within Preston Center. With design led by HKS Architects and capital arranged by JLL, the venture brings together multiple real estate and financial partners to execute the planned office, residential and retail program.
