Oxford Properties Group is proposing a 24-story, 625,000-square-foot office tower to replace the 125 Lincoln St. garage in Boston’s Leather District.

Oxford acquired the property, which includes office space and ground floor retail, in May 2017 for $39.5 million from Intercontinental Real Estate.

“The site represents a tremendous opportunity to transform and improve the public realm at this corner of the Leather District, as well as create a stronger connection to the Greenway and Chinatown,” Mark McGowan, vice president and head of development in Boston for Oxford, said in a statement.

In addition to office space, the tower will contain retail and restaurant uses on the ground floor, below-grade parking and indoor and outdoor public space, McGowan said.

The project requires zoning variances and approval under the BPDA’s Article 80 large project review.

The property was 100 percent leased at the time of the sale to Oxford, but included landlord termination options on leases enabling a redevelopment, according to marketing materials distributed by broker Newmark Knight Frank at the time.