{"id":1004463073,"date":"2020-08-05T15:18:10","date_gmt":"2020-08-05T23:18:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004463073"},"modified":"2020-08-07T00:52:53","modified_gmt":"2020-08-07T08:52:53","slug":"office-development-amid-coronavirus-case-study","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/office-development-amid-coronavirus-case-study\/","title":{"rendered":"Office Development Amid Coronavirus: Case Study"},"content":{"rendered":"<p>In November 2019, Houston-based Hines, along with partners Westdale Real Estate Investment &amp; Management and Ivanho\u00e9 Cambridge, broke ground on The Stack, a 16-story mixed-use building with 200,000 square feet of office space and 15,000 square feet of ground-floor retail.<\/p>\n<hr>\n<p>READ ALSO: <a href=\"https:\/\/www.commercialsearch.com\/news\/as-offices-reopen-report-finds-few-employees-returning\/\">Office Occupancy Varies Widely as Workers Trickle Back: Report<\/a><\/p>\n<hr>\n<p>The project is located in the Deep Ellum neighborhood of Dallas, a hip and highly walkable area with over 60 restaurants and bars, plus numerous retail shops and live music venues. For the Class AA building designed by 5G Studio Collaborative, the development team envisioned a cutting-edge stacked design and distinguished appearance, along with sustainability features, to attract creative tenants in the technology, advertising, media and IT industries.<\/p>\n<div id=\"attachment_1004464156\" style=\"width: 1010px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/The-Stack.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004464156\" data-attachment-id=\"1004464156\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/office-development-amid-coronavirus-case-study\/the-stack\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/The-Stack.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Stack\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Under development by Hines, Westdale Real Estate Investment and Management and Ivanhoe Cambridge in the trendy Deep Ellum neighborhood of Dallas, The Stack will include 200,000 square feet of office space and 15,000 square feet of ground-floor retail. It hasn&#8217;t experienced any delays from COVID-19 but the developers are planning to implement design changes to better meet the needs of future tenants as a result of the pandemic. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/The-Stack.jpg?w=1000\" class=\"size-full wp-image-1004464156\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/The-Stack.jpg\" alt=\"\" width=\"1000\" height=\"750\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/The-Stack.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/The-Stack.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/The-Stack.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><p id=\"caption-attachment-1004464156\" class=\"wp-caption-text\">Tenant amenities at The Stack will include electric vehicle and scooter charging stations, an expansive 10th floor amenity terrace, a state-of-the-art fitness center and concierge package delivery.&nbsp;<em>Rendering courtesy of 5G Studio Collaborative<\/em><\/p><\/div>\n<p><em>\u201c<\/em><a href=\"https:\/\/www.commercialsearch.com\/news\/westdale-ivanhoe-cambridge-hines-break-ground-on-dallas-project\/\"><em>The Stack<\/em><\/a><em> will be transformational to Deep Ellum and the Dallas market,\u201d<\/em> said Ben Brewer, a Hines managing director. <em>\u201cIts cutting-edge design will offer a first-class office experience, allowing our tenants to recruit and retain top talent.\u201d<\/em><\/p>\n<p>The project, slated for completion in May 2021, has not experienced any major delays or disruptions due to COVID-19. Proper protocols were implemented at the job site\u2014including face masks and social distancing\u2014but the transition was smooth, and construction is ongoing, according to Corbin Eckel, a director in Hines\u2019 Dallas office.<\/p>\n<p>Leasing, however, <a href=\"https:\/\/www.commercialsearch.com\/news\/office-occupancy-faces-uncertain-summer\/\">may be slower than expected<\/a>. The project is currently being marketed, but no preleases have been signed to date. <em>\u201cHistorically, a lot of the new Class A buildings that have been successful have gone speculative, and we\u2019re in that bucket,\u201d<\/em> he said. \u201cCOVID-19 has impacted the decision-making for a lot of office tenants. But there are no other Class A office buildings with vacancy in Deep Ellum at present, so we anticipate things will pick up again.\u201d<\/p>\n<div id=\"attachment_1004464159\" style=\"width: 1010px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/Stack.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004464159\" data-attachment-id=\"1004464159\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/office-development-amid-coronavirus-case-study\/stack\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/Stack.jpg\" data-orig-size=\"1000,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Stack\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Stack&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/Stack.jpg?w=1000\" class=\"size-full wp-image-1004464159\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/Stack.jpg\" alt=\"\" width=\"1000\" height=\"600\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/Stack.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/Stack.jpg?resize=300,180 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/07\/Stack.jpg?resize=768,461 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><p id=\"caption-attachment-1004464159\" class=\"wp-caption-text\">Located just east of the city\u2019s central business district, The Stack will offer tenants 75-plus options for breakfast, lunch, happy hour and dinner.&nbsp;<em>Rendering courtesy of 5G Studio Collaborative<\/em><\/p><\/div>\n<p>Eckel said COVID-19 has accelerated trends that were already present in the office sector. <em>\u201cWe are seeing an increase in remote working, but, at the same time, we\u2019re seeing a de-densification of office space,\u201d<\/em> he said. <em>\u201cWe think office space will become more of a want than a need, and that high-quality office assets may start to behave more like a luxury product.\u201d<\/em><\/p>\n<p>Still, to meet the evolving needs of potential office tenants, Eckel said Hines is studying new design features to implement, in addition to the WELL Building Standard they are already targeting. He said it\u2019s likely that elevators, doors and restrooms will be modified to become touch-free, antimicrobial finishes will be added in high-touch locations, and ultraviolet lights\u2014already planned for outdoor air handlers to decontaminate coils\u2014will be incorporated to disinfect indoor air, as well.<\/p>\n<p>Although the new features will increase construction costs, Eckel believes they will make the building more marketable to future tenants. <em>\u201cWe think they will bring the building into the future in a unique way,\u201d<\/em> he said. <em>\u201cWe\u2019ll ultimately have to make decisions on which items make the most sense.\u201d<\/em><\/p>\n<p><a href=\"https:\/\/mydigitalpublication.com\/publication\/?i=669435\"><em>You\u2019ll find more on this topic in the CPE-MHN 2020 Midyear Update.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hines incorporates new design features to address heightened concerns about wellness.<\/p>\n","protected":false},"author":888,"featured_media":1004464156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21782,1521,21742,21747],"tags":[48578,49798,32797,33565,49795,34605],"class_list":["post-1004463073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-development","category-digital","category-latest","category-office","tag-5g-studio-collaborative","tag-ben-brewer","tag-hines","tag-ivanhoe-cambridge","tag-the-stack","tag-westdale-real-estate-investment-and-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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