McKinney & Olive Achieves Milestone of Being 100 Percent Leased
Luxury Uptown Dallas tower designed by internationally acclaimed architects Pelli Clarke Pelli will be fully occupied as the result of four new leases totaling more than 24,000 square feet
DALLAS (September 12, 2018) – Crescent Real Estate LLC (Crescent) and J.P. Morgan Asset Management announced today that luxury office tower McKinney & Olive is now 100 percent leased, a rare milestone for a multi-tenant building. The luxury Uptown Dallas building will be fully occupied as the result of four new leases totaling more than 24,000 square feet.
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 20-story, 530,000-square-foot structure – of which 486,000 square feet was available for leasing – is the first commercial building in Dallas to be designed by an internationally acclaimed architect since the 1980s.
Newly signed leases at McKinney & Olive include an undisclosed firm, which originally leased 27,340 square feet and is adding an additional 17,263 square feet; Bonanza Capital Ltd. (2,556 square feet); Robo Global, LLC (2,452 square feet); and BNP Paribas (2,079 square feet).
“Being 100 percent leased is a significant milestone, and we’re very honored to have reached it,” said John Zogg, managing director of Crescent.
“We’re proud to have attracted such a stellar level of customers who embraced the building quality and architecture, the attention to detail, and the amenities.”
Zogg added that the retail component – which currently features six restaurants at every price point, along with CycleBar, Drybar and Marketplace Sundry – is nearly 100 percent leased as well. The final retail additions are expected to be announced this fall.
In addition to Zogg, brokers involved in the recent transactions are Clay Vaughn, CBRE; Perry Wood, CBRE; and Calvin Hull, Jones Lang LaSalle.
Zogg credited local brokers for their efforts in achieving full occupancy at McKinney & Olive: Phil Puckett, Jeff Ellerman, Randy Cooper, Craig Wilson, John Amend, BD Amend, Harlan Davis, Steve Andrews, Sharon Friedberg, Matt Miller, Eric Beichler, Brooke Armstrong, Jihane Boury, Zac Porter and Peery Wood.
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 provides 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.
For more information, visit mckinneyandolive.com.
Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management and investment capacity of more than $4 billion. Through the recently established GP Invitation Fund I, the company acquires, develops and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent’s premier real estate portfolio consists of Class A and creative office, multifamily and hospitality assets located throughout the U.S. including The Ritz-Carlton, Dallas; McKinney & Olive in Dallas; and the wellness lifestyle leader, Canyon Ranch®. For more information, visit www.crescent.com.
ABOUT J.P. MORGAN GLOBAL ALTERNATIVES
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $130 billion in assets under management and over 800 professionals (as of June 30, 2018), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 23 offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information: www.jpmorganassetmanagement.com.