Granite Properties Tops Out Dallas Mixed-Use Project

Granite Properties and joint venture partner Highwoods Properties have topped out 23Springs, a 642,000-square-foot mixed-use development featuring a 26-story office tower in Uptown Dallas, as the project nears its March 2025 delivery.

The 2323 Cedar Springs Road complex is located at the corner of Maple Avenue and Cedar Springs and includes two restaurant buildings totaling approximately 16,000 square feet and a half-acre park. The 626,215-square-foot office tower and restaurants are 60 percent leased. New tenants include the Wish You Were Here Group’s restaurants Élephante and Little Ruby’s Café, as well as Savills, which is leasing 10,000 square feet of space on the 14th floor in the office tower. The restaurants are slated to open in the fall of 2025. Élephante will occupy a two-story building facing Maple Avenue, while Little Ruby’s Café will located in a one-story building facing the 23Springs park.

In March, Granite Properties announced it had signed global law firm Sidley Austin LLP to a 118,484-square-foot lease for four and a half floors in the high-rise. Other office tenants include Deloitte, which signed a long-term lease in January for four floors of space and Bank OZK, which is taking four floors in the tower. Bank OZK also provided $265 million in construction financing for the development.

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“23Springs’ leasing velocity remains strong and reflects the continued demand for premier office space that is exceptionally located and walkable to shops and restaurants. We’re also seeing deal velocity and activity picking up across Uptown Dallas,” Paul Bennett, senior managing director, Granite Properties, told Commercial Property Executive.

DPR Construction is the general contractor and GFF is the development’s designer. DPR Construction broke ground at the 2.5-acre site in June 2022.

Building features, amenities

Bennett said tenants are attracted to “23Springs’ unique blend of amenities and community-focused design in the heart of Uptown Dallas.”

He said the project’s wide range of amenities and features “underscore its commitment to work-life balance, providing a change of scenery and space to unwind at the office.”

“The half-acre park, restaurants and patios will connect our customers to the neighborhood and create a new destination that is appealing to our customers and people throughout the city,” Bennett told CPE.

The glass office tower has been designed for LEED Silver and Fitwell certifications. In a post-pandemic office environment, it will provide tenants and visitors a touchless path from the garage to the office. Other design features include 14-foot floor-to-ceiling windows, column-free corner offices for views of the Uptown and Downtown Dallas skylines, clean air technology, destination dispatch elevators and ample green space to meet or work outdoors. Sustainability features include a rainwater harvesting system and low flow water fixtures, reducing indoor water consumption by 50 percent and energy consumption by 14 percent.

Building amenities include a two-story hospitality-driven lobby with a coffee and wine bar; indoor lounge with golf simulator; large conference center and boardroom; fitness center; outdoor lounge with full AV-enabled conference facilities; private motor court; EV charging stations; bike storage and valet parking. The building also has a total of 1,520 parking spaces in a six-story underground garage.

The property is walkable to popular Uptown restaurants, shops and the Katy Trail with easy access to the Dallas North Tollway and North Central Expressway.

More Granite projects

Granite Properties, a Plano, Texas, privately held commercial real estate investment, development and management company, owns 11 million square feet of high-quality office space in Dallas, Houston, Atlanta, Denver, Boston, Southern California and Nashville, Tenn. Current development projects in Dallas and Boston total more than 1.6 million square feet of space.

Earlier this month, Granite Properties and joint venture partners CBRE Investment Management and Leggat McCall Properties completed the conversion of a former courthouse and jail in Cambridge, Mass., to create 40 Thorndike, a 475,000-square-foot mixed-use building with 422,000 square feet of office space, apartments and ground-level retail.

Last October, Granite Properties and Highwoods Properties opened Granite Park 6, a 19-story, 422,109-square-foot Class AA office tower at 5525 Granite Parkway in Plano. Currently the tallest building in Granite Park 6, it was the seventh office property to open in the 2.3 million-square-foot development.

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