Granite Properties JV Adds 118 KSF Tenant at Dallas Tower
A law firm leased more than four floors at this office development.
Granite Properties has now leased more than half of an upcoming Dallas office tower. The developer, along with its joint venture partner Highwoods Properties, signed a 118,484-square-foot lease at its 23Springs development with Sidley Austin LLP. The global law firm will take four and a half floors at the high-rise under this long-term commitment.
Sidley Austin currently occupies approximately 80,000 square feet at McKinney & Olive, another office property in Dallas that’s owned by Granite and Highwoods. Since the building was already fully occupied and the law firm was looking to expand, it decided to relocate to 23Springs starting January 2026.
READ ALSO: Office Asset Values Slide Amid Challenges
The developers tapped GFF to design 23Springs and DPR Construction broke ground on the 2.5-acre site at 2323 Cedar Springs Road in June 2022, as general contractor. Delivery is expected in March 2025.
When complete, the 626,215-square-feet office tower will have 14-foot floor-to-ceiling windows, clear air technology and green spaces throughout. The 26-story high-rise will include a fitness center, two-story lobby with a coffee and wine bar, indoor lounge with a golf simulator, conference center and boardroom and outdoor lounge with AV-enabled conference facilities, as well as a private motor court, valet parking, EV charging stations and bike storage. Plans also call for two restaurant buildings on each side of the building and a half-acre park.
The Class AA office is aiming for LEED Silver and Fitwel certifications, which will be achieved in part thanks to a rainwater harvesting system and low-flow water fixtures. According to Granite, these designs reduce the building’s water consumption by 50 percent and energy consumption by 14 percent.
Strong leasing activity so far
Sidley Austin’s lease brought 23Springs to 53 percent occupancy. Earlier this year, Deloitte signed a long-term lease for four floors of office space at the Dallas development, while Bank OZK previously leased another four floors.
Paul Bennett, senior managing director at Granite Properties, told Commercial Property Executive that the company is still seeing robust leasing activity at 23Springs and has attracted major brands.
“23Springs is representative of our belief that high-quality, highly amenitized, well-located office space will continue to perform well,” Bennett told CPE. “The building is attracting national, regional, and local companies looking for a great experience for their employees, with high-end amenities, outdoor workspace, and walkable shops and restaurants.”
Granite’s experience in the Metroplex
Before 23Springs, Granite has worked on a number of other projects in the Dallas area that include office, retail and hospitality spaces. In October, the developer opened Granite Park 6, the 19-story office tower that totals 422,109 square feet and is part of the 90-acre mixed-use district called Granite Park. A year prior, Granite topped out on the second phase of Granite Place in Southlake, Texas.
Granite currently has Boston and Dallas projects underway encompassing more than 1.6 million square feet and with total costs of more than $1.2 billion. Overall, the firm owns 11 million square feet of office space across the U.S.
You must be logged in to post a comment.