Leasing for Uptown’s McKinney & Olive Luxury Office Tower Hits 78 Percent Leased Five Months Prior to Opening
Nine new leases – totaling more than 106,000 square feet – bring Pelli Clarke Pelli-designed office tower closer to fully leased
DALLAS (March 28, 2016) – Crescent Real Estate Holdings LLC announces nine new leases totaling more than 106,000 square feet bringing the project to 78 percent leased five months prior to the opening of McKinney & Olive, Crescent’s newest development in Dallas’ Uptown.
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.
New signed leases at McKinney & Olive include Stackpath, a cyber security firm (27,340 square feet); Trive Capital, a middle-market private equity firm (13,931 square feet); Prologis Industrial REIT, an industrial logistics real estate firm (12,883 square feet); MHT MidSpan, LP, a leading national investment bank (12,878 square feet); Tailwater Capital, a middle-market private investment firm (10,114 square feet); Haworth, a designer and manufacturer of adaptable workspaces (9,969 square feet);
Luther King Capital Management, a registered investment adviser (8,980 square feet); Sales Benchmark Index, a management consulting firm specializing in sales and marketing (6,233 square feet); and Park Place Dealerships, a luxury car dealership group (4,377 square feet).
“We’re thrilled that McKinney & Olive is at 78 percent leased five months prior to opening,” said John Goff, chairman and chief executive officer of Crescent Real Estate Equities, LLC. “The quality of our client base is second to none, demonstrating that McKinney & Olive will be Dallas’ most iconic asset seen since The Crescent’s arrival in Uptown 30 years ago.”
Goff adds that interest in McKinney & Olive remains intense, and he believes the building will be fully leased before it opens. More key leases – including retail – will be announced in the next several months.
The new leases come just weeks after the formal announcement that Saatchi & Saatchi, the agency of record for Toyota Motor Sales, U.S.A., Inc. along with sister company, Team One, agency of record for the Lexus brand, have leased a minimum of 52,000 square feet in the office tower. They join Gardere Wynne Sewell LLP, Sidley Austin LLP and McKinsey & Company.
“Credit for this milestone goes to the brokers who worked so hard, embraced the vision and recognized the quality early on in McKinney & Olive,” said John Zogg, managing director for Crescent Real Estate Equities, LLC.
The brokers involved in the recent transactions include Clay Vaughn, Phil Puckett and Harlan Davis, CBRE; Eric Biechler, Mohr Partners, Inc.; John Amend, The Amend Group; Calvin Hull, JLL; Zac Porter, Viceroy Realty Advisors; and Brook Armstrong and Doug Carignan, JLL.
Completion is set for late summer 2016. 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.