{"id":1004575000,"date":"2022-04-05T12:59:37","date_gmt":"2022-04-05T20:59:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004575000"},"modified":"2022-12-08T09:48:48","modified_gmt":"2022-12-08T17:48:48","slug":"granite-properties-lands-financing-tenant-for-dallas-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/granite-properties-lands-financing-tenant-for-dallas-project\/","title":{"rendered":"Granite Properties Lands $265M Loan, Tenant for Dallas Project"},"content":{"rendered":"
\"\"<\/a>

23Springs Lobby. Rendering courtesy of Granite Properties<\/p><\/div>\n

Granite Properties <\/strong>is one step closer to a June groundbreaking for 23Springs, a 626,215-square-foot mixed-use development in Uptown Dallas. It’s a two-in-one for the upcoming 26-story Class AA office project, as Bank OZK <\/strong>provided construction financing and signed a 110,029-square-foot lease for its new regional headquarters at the upcoming development, expected to be delivered in March 2025.<\/p>\n

The Little Rock-based lender will occupy four floors at 23Springs and originated a $265 million loan, according to Dallas County records. JLL<\/strong>\u2019s Robert Blount represented the bank in the 110,029-square-foot lease negotiations, while Granite was represented internally by Robert Jimenez and Burson Holman.<\/p>\n

\n

READ ALSO<\/strong>: Dallas-Fort Worth Flex Office on the Rise: Q&A<\/a><\/p>\n

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Granite plans to market the development in-house with the leasing team including Robert Jimenez, Burson Holman and Elizabeth Fortado. JLL also helped secure the construction loan with Jim Curtin working o behalf of the borrower and Nam Tran of Winstead representing Bank OZK.<\/p>\n

\"\"<\/a>

23Springs. Rendering courtesy of Granite Properties<\/p><\/div>\n

Building Uptown Dallas\u2019 largest office building<\/h2>\n

Featuring double X-brace columns, the GFF Architects<\/strong>-designed 23Springs is set to become an architecturally distinct high-rise in the Dallas skyline. The development team behind the glass tower also includes DPR Construction<\/strong> as general contractor. Granite plans to achieve LEED Silver as well as Fitwel certifications for 23Springs, which will be Uptown’s largest office building upon delivery.<\/p>\n

The high-rise will take shape on 2.5 acres at 2323 Cedar Springs Road and will replace Cedar Maple Plaza I-III, a three-building office complex built in 1983 and totaling 112,675 square feet. The new development will feature 26,000-square-foot floorplates.<\/p>\n

Amenities at 23Springs will include a tree-lined park with seating options and pathways on half an acre, as well as two low-rise restaurant buildings encompassing 17,000 square feet, positioned on each side of the office tower.<\/p>\n

The new development will also feature a two-story lobby with a coffee and wine bar, a 4,500-square-foot fitness center, an indoor as well as an outdoor lounge, a conference center and boardroom, electric vehicle charging stations and bike storage. Additionally, 23Springs will offer six levels of underground parking, a private motor court and valet parking.<\/p>\n

A few blocks away, Stream Realty Partners has started construction on The QUAD, the company\u2019s largest single investment in Dallas, with the help of a $176 million construction loan<\/a>. Scheduled to come online in early 2024, the project will include a 12-story office tower totaling 335,000 square feet, along with five bungalows offering a combined 15,000 square feet of retail space.<\/p>\n","protected":false},"excerpt":{"rendered":"

Upon completion, 23Springs will be the largest office building in Uptown.<\/p>\n","protected":false},"author":1763,"featured_media":1004575004,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1586,21782,21808,21752,21742,21747],"tags":[41597,36580,34124,35877,32796],"class_list":["post-1004575000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-dallas","category-development","category-featured","category-mixed-use","category-latest","category-office","tag-bank-ozk","tag-dpr-construction","tag-gff-architects","tag-granite-properties","tag-jll"],"acf":[],"yoast_head":"\nBank OZK Finances Granite Properties' Uptown Dallas Project - CPE<\/title>\n<meta name=\"description\" content=\"JLL helped secure construction financing from Bank OZK for Granite Properties' 23Springs in Dallas. 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