{"id":1004697943,"date":"2024-01-18T07:40:31","date_gmt":"2024-01-18T15:40:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004697943"},"modified":"2024-01-18T07:40:32","modified_gmt":"2024-01-18T15:40:32","slug":"deloitte-leases-4-floors-at-dallas-office-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/deloitte-leases-4-floors-at-dallas-office-development\/","title":{"rendered":"Deloitte Leases 4 Floors at Dallas Office Development"},"content":{"rendered":"\n<p><strong>Deloitte <\/strong>has signed a long-term lease for more than 100,000 square feet across four floors at 23Springs, a new office development in Dallas totaling 626,215 square feet. The owner is a joint venture between <strong>Granite Properties <\/strong>and <strong>Highwoods Properties<\/strong>. The tenant plans to relocate from Dallas Arts Tower in the spring of 2026.<\/p>\n\n\n\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img decoding=\"async\" alt=\"23SPRINGS EXTERIOR\" class=\"wp-block-jetpack-slideshow_image wp-image-1004697950\" data-id=\"1004697950\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_EXTERIOR-EVENING-NORTH-VIEW-4-e1705485922132.jpg?w=1024\"\/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">23Springs expects completion in March 2025. All images courtesy of Granite Properties<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img decoding=\"async\" alt=\"23Springs Lawn\" class=\"wp-block-jetpack-slideshow_image wp-image-1004697949\" data-id=\"1004697949\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_LAWN-1-2.jpg?w=1024\"\/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">23Springs Lawn<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"6000\" height=\"3750\" alt=\"23Springs outdoor conference space\" class=\"wp-block-jetpack-slideshow_image wp-image-1004697946\" data-id=\"1004697946\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_OUTDOOR-CONFERENCE-3.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_OUTDOOR-CONFERENCE-3.jpg 6000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_OUTDOOR-CONFERENCE-3.jpg?resize=300,188 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_OUTDOOR-CONFERENCE-3.jpg?resize=768,480 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_OUTDOOR-CONFERENCE-3.jpg?resize=1024,640 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_OUTDOOR-CONFERENCE-3.jpg?resize=1536,960 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_OUTDOOR-CONFERENCE-3.jpg?resize=2048,1280 2048w\" sizes=\"(max-width: 6000px) 100vw, 6000px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">23Springs outdoor conference space<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"5000\" height=\"2779\" alt=\"23Springs lobby\" class=\"wp-block-jetpack-slideshow_image wp-image-1004697948\" data-id=\"1004697948\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_LOBBY-5.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_LOBBY-5.jpg 5000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_LOBBY-5.jpg?resize=300,167 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_LOBBY-5.jpg?resize=768,427 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_LOBBY-5.jpg?resize=1024,569 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_LOBBY-5.jpg?resize=1536,854 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/23SPRINGS_LOBBY-5.jpg?resize=2048,1138 2048w\" sizes=\"(max-width: 5000px) 100vw, 5000px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">23Springs lobby<\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n\n<p>This new lease brought the property&#8217;s occupancy to 34 percent. In August 2022, <strong>Bank OZK<\/strong> signed a long-term lease for four stories totaling 110,029 square feet and also <a href=\"https:\/\/www.commercialsearch.com\/news\/granite-properties-lands-financing-tenant-for-dallas-project\/\">provided $265 million in construction financing<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/dallas-office-market-gives-off-mixed-signals\/\">Dallas Office Market Gives Off Mixed Signals<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Granite broke ground on 23Springs in June 2022. One month later, <a href=\"https:\/\/www.commercialsearch.com\/news\/highwoods-properties-enters-dfw-market-with-130m-deal\/\">Highwoods joined the project <\/a>through the $130 million acquisition of a 50 percent stake in the development. <strong>GFF Architects <\/strong>designed the project and <strong>DPR Construction <\/strong>serves as general contractor. Completion is expected in March 2025.<\/p>\n\n\n\n<p>The 26-story building is set to also include some 17,000 square feet of retail space. Amenities at the Class AA development will feature a 4,500-square-foot fitness center, two-story lobby with coffee-and-wine bar, golf simulator and valet parking, among others. <\/p>\n\n\n\n<p>Located at 2323 Cedar Springs Road in Uptown, the 2.6-acre site is close to the Katy Trail and the Dallas North Tollway. The property is also adjacent to numerous retail options.<\/p>\n\n\n\n<p>Granite\u2019s in-house team that represented the ownership in the deal includes Senior Director Robert Jimenez, Director Burson Holman and Leasing Manger Elizabeth Fortado.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-dallas-listing-rates-drop\">Dallas&#8217; listing rates drop<\/h2>\n\n\n\n<p>Office listing rates in Dallas clocked in at $28 as of November, down 3.9 percent year-over-year and trailing the national average of $38, according to <a href=\"https:\/\/www.commercialsearch.com\/news\/office-sector-faces-surging-loan-defaults-amidst-market-challenges\/\">a recent CommercialEdge report<\/a>. Meanwhile, the vacancy rate rose to 18.9 percent, up 70 basis points over the year and above the national figure of 18.2 percent.<\/p>\n\n\n\n<p>In one of the biggest office leases of last year,\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/bank-of-america-signs-248-ksf-dallas-lease\/\" target=\"_blank\" rel=\"noreferrer noopener\">Bank of America committed to 248,000 square feet<\/a>\u00a0at another Uptown development. The 500,000-square-foot tower is expected to come online in 2027.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Granite Properties and Highwoods Properties own this underway Uptown tower.<\/p>\n","protected":false},"author":3120,"featured_media":1004697950,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1586,21742,21747,51973],"tags":[41597,32782,36580,34124,35877,52192],"class_list":["post-1004697943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-dallas","category-latest","category-office","category-southwest","tag-bank-ozk","tag-deloitte","tag-dpr-construction","tag-gff-architects","tag-granite-properties","tag-highwoods-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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