{"id":1004568257,"date":"2022-02-21T04:32:21","date_gmt":"2022-02-21T12:32:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004568257"},"modified":"2022-12-08T10:26:55","modified_gmt":"2022-12-08T18:26:55","slug":"jv-wraps-up-155m-mixed-use-project-in-dallas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-wraps-up-155m-mixed-use-project-in-dallas\/","title":{"rendered":"JV Wraps Up $155M Mixed-Use Project in Dallas"},"content":{"rendered":"
\"\"<\/a>

Dallas skyline. Image courtesy of David Mark via Pixabay.com<\/p><\/div>\n

Weir\u2019s Plaza, a 12-story mixed-use project in Dallas\u2019s Knox Retail District, has been completed, the Dallas Business Journal<\/em> reported on Friday.<\/p>\n

The development\u2019s value is $155 million, according to the Dallas Morning News<\/em>.<\/p>\n

The property, at 3219 Knox St., was a redevelopment of the Weir\u2019s Furniture store, occupied for more than 70 years.<\/p>\n

The building that stands there now comprises a new two-story, 28,000-square-foot Weir\u2019s Furniture store; 250,000 square feet of Class A office space; and 12,000 square feet of restaurant space.<\/p>\n

The property reportedly is fully leased, with office tenants including Kirkland & Ellis<\/strong>, Fortress Investment<\/strong> and Arctos Sports<\/strong>.<\/p>\n

\n

READ ALSO<\/strong>: Dallas-Fort Worth Market Update: Construction Activity On the Up<\/a><\/p>\n

\n

Amenities include a resort-style tenant fitness center, several rooftop terraces, six levels of underground parking with capacity for more than 800 vehicles and easy access to the Katy Trail, according to a brochure from the property\u2019s ownership.<\/p>\n

Part of the project included preserving the historic Highland Park Soda Fountain, by way of incorporating its facade into the new structure.<\/p>\n

The development reportedly required excavating 60 feet into rock and installing a soil retention system to ensure the stability of nearby buildings, streets and parking garages.<\/p>\n

The Weir family\u2019s partners in the redevelopment were JE Dunn Construction<\/strong>, Four Rivers Capital<\/strong> and GFF Architects<\/strong>, all of Dallas.<\/p>\n

Mixed bag in the Metroplex<\/h2>\n

Despite a recovering local economy, the Dallas\u2013Fort Worth office market is \u201ctepid,\u201d with significant sublease space undercutting what was otherwise strong new absorption in the fourth quarter, according to a recent report from Newmark<\/strong>.<\/p>\n

Net absorption in the fourth quarter hit just over 904,000s square feet, yet the whole-year absorption figure was negative to the tune of 1.3 million square feet, because of poor activity early in 2021. Worse, CNBC indicated that Texas has lost a bit of its luster as a destination for corporate relocations.<\/p>\n

Nonetheless, office development in the metro remains active, with nearly 50 buildings totaling almost 7 million square feet currently underway, also according to Newmark.<\/p>\n","protected":false},"excerpt":{"rendered":"

This redevelopment of a vintage retail property features 250,000 square feet of Class A office space.<\/p>\n","protected":false},"author":882,"featured_media":1004527204,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21782,21808,21752,21742,21747],"tags":[34124,36300,50999],"class_list":["post-1004568257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-development","category-featured","category-mixed-use","category-latest","category-office","tag-gff-architects","tag-je-dunn-construction","tag-newmark"],"acf":[],"yoast_head":"\nJV Wraps Up $155M Mixed-Use Project in Dallas - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Weir\u2019s Plaza, a 12-story mixed-use project at 3219 Knox St. in Dallas\u2019s Knox Retail District, has been completed.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jv-wraps-up-155m-mixed-use-project-in-dallas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Wraps Up $155M Mixed-Use Project in Dallas\" \/>\n<meta property=\"og:description\" content=\"Weir\u2019s Plaza, a 12-story mixed-use project at 3219 Knox St. in Dallas\u2019s Knox Retail District, has been completed.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-wraps-up-155m-mixed-use-project-in-dallas\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-21T12:32:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T18:26:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Dallas-skyline_David-Mark_via-Pixabay-e1618829989905-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-wraps-up-155m-mixed-use-project-in-dallas\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-wraps-up-155m-mixed-use-project-in-dallas\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"JV Wraps Up $155M Mixed-Use Project in Dallas\",\"datePublished\":\"2022-02-21T12:32:21+00:00\",\"dateModified\":\"2022-12-08T18:26:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-wraps-up-155m-mixed-use-project-in-dallas\\\/\"},\"wordCount\":353,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-wraps-up-155m-mixed-use-project-in-dallas\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/05\\\/Dallas-skyline_David-Mark_via-Pixabay-e1618829989905-1.jpg\",\"keywords\":[\"GFF Architects\",\"JE Dunn Construction\",\"Newmark\"],\"articleSection\":[\"Dallas\",\"Development\",\"Featured\",\"Mixed Use\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-wraps-up-155m-mixed-use-project-in-dallas\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-wraps-up-155m-mixed-use-project-in-dallas\\\/\",\"name\":\"JV Wraps Up $155M Mixed-Use Project in Dallas - 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