Commercial Real Estate Giant Cushman & Wakefield to Lease 40,863 Square Feet in Uptown’s McKinney & Olive
Move symbolizes a desire to have major presence and centralized office in Dallas following Cushman & Wakefield’s merger with DTZ
DALLAS (May 23, 2016) – Crescent Real Estate Holdings LLC announces that commercial real-estate giant Cushman & Wakefield has leased 40,863 square feet – encompassing two floors in the 20-story building – in McKinney & Olive, Crescent’s newest development in Dallas’ Uptown. The move to McKinney & Olive symbolizes Cushman & Wakefield’s desire to have a major presence with centralized offices in Dallas, especially important following its recent merger with DTZ. Craig Wilson, Randy Cooper, Mike Wyatt and Matt Heidelbaugh represented Cushman & Wakefield in the transaction, and John Zogg represented Crescent.
The addition of Cushman & Wakefield to McKinney & Olive’s prestigious roster of firms brings the project to 88 percent leased barely three months prior to the development’s opening, which is slated for late summer.
“Cushman & Wakefield is one of the world’s most respected commercial real estate firms, and its reputation is further enhanced as a result of their merger with DTZ,” said John Goff, chairman and chief executive officer of Crescent Real Estate Equities, LLC. “Cushman & Wakefield is uniquely informed of the Dallas market so their selection of McKinney & Olive speaks volumes to its premier location, building quality and numerous amenities.”
McKinney & Olive is a one-of-a-kind, mixed-use project offering world-class architecture by award-winning firm Pelli Clarke Pelli Architects, plus premier Class-A office space and unrivaled visibility in the vibrant pedestrian-oriented Uptown Dallas neighborhood. The 530,000-square-foot structure will be the first commercial building in Dallas to be designed by an internationally acclaimed architect since the 1980s.
“McKinney & Olive affords us the opportunity to create a strategic, vibrant workspace for our employees and partners,” said Ran Holman, Cushman & Wakefield Dallas market leader. “This type of space located in an energetic, mixed-use environment will benefit us as Cushman & Wakefield continues its expansion in North Texas.”
Goff notes that Cushman & Wakefield’s lease comes weeks after the decision by Prologis Industrial REIT – the global leader in industrial logistics real estate across the Americas, Europe and Asia – to lease 12,883 square feet in McKinney & Olive.
“I can tell you it’s a great honor when peers like Cushman & Wakefield and Prologis – two of the world’s powerhouse real-estate companies – respect your work enough to choose it as their new home,” said John Zogg, managing director for Crescent Real Estate Equities, LLC, who played a key role in both leases.
Zogg added that several retail leases should be announced in the next month, and he expects the building to be completely leased by opening date, which is slated for late summer. The building is taking shape. In the main lobby, the glass has been installed, along with the marble on the walls and floors. The exterior of the garage, which features perforated metal panels, is now complete, and the metal supports for the shade system located on the top of the garage are being erected. Construction of the Concierge Floor – which contains the conference center, fitness center and management office – is currently underway. The piazza, under the guidance of landscape designer The Office of James Burnett, also is coming to life. The fountain feature has been fully constructed, and five fully mature trees are lush and blooming.
Several customers have begun their finish out. They include Gardere Wynne Sewell LLP; Sidley Austin LLP; McKinsey & Company; MHT MidSpan, LP and Del Frisco’s Double Eagle Steakhouse. Other prominent firms that have signed leases at McKinney & Olive include Stackpath; Trive Capital; Tailwater Capital; Haworth; Luther King Capital Management; Saatchi & Saatchi; Team One; Sales Benchmark Index and Park Place Dealerships.
Located on a 3.1-acre site at McKinney Avenue and Olive Street, McKinney & Olive is juxtaposed amid the grandeur of the neighboring Ritz-Carlton and The Crescent® and just blocks from the Dallas Arts District and Klyde Warren Park. As is the mission with its other properties, Crescent will provide exceptional customer service at McKinney & Olive. Crescent has been recognized 10 times with the prestigious National Commercial Real Estate Customer Service Award for Excellence, or the “A List” Award, from CEL & Associates, Inc.
There’s only one! For more information, visit mckinneyandolive.com.
Crescent Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a fully-integrated real estate company owned by Goff Capital and Barclays Capital. Through its subsidiaries, Crescent manages and develops premier, Class A office buildings. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Vail Valley, and Lake Tahoe; a luxury hotel, The Ritz-Carlton, Dallas; and the wellness lifestyle leader, Canyon Ranch®. For more information, visit crescent.com.
ABOUT CUSHMAN & WAKEFIELD
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.