The recent opening of 23Springs marks a significant addition to the office landscape of Uptown Dallas.
With its thoughtful design and plethora of amenities, the 640,000-square-foot building stands tall at the intersection of Cedar Springs Road and Maple Avenue, providing an innovative solution for contemporary office needs.
A collaboration between Granite Properties and Highwoods Properties, 23Springs is a 26-story marvel that balances aesthetics and practicality.
Designed by GFF, a Dallas-based architecture firm, the building’s standout feature is its glass facade, which has a slight convex curve on the lower floors.
This unique architectural detail gives the building a distinctive profile, enhancing its visual appeal.
Upon entering 23Springs, visitors are greeted by a striking 1,250-square-foot interactive video wall that sets the tone for a modern work environment.
Adjacent to the entrance, a staircase leads to conference and amenity floors, complemented by an employee coffee bar that provides a cozy gathering spot for tenants.
Already, 23Springs has secured partnerships with notable dining establishments, including Australian cafe Little Ruby’s and coastal Italian restaurant Élephante, which is set to wrap up construction early next year.
There are also negotiations underway with another fast-casual restaurant to further enhance the building’s dining options.
For outdoor meetings and relaxation, the property boasts an outdoor conferencing area equipped with audiovisual setups and a lounge for tenants to unwind.
The second and third floors host Granite’s property management offices and additional tenant amenities, like well-appointed conference rooms, a lounge featuring wine lockers, and a video gaming room complete with a floor-to-ceiling screen for virtual sports.
A comprehensive 4,500-square-foot fitness center caters to the well-being of tenants looking to stay active without leaving the building.
Granite Properties emphasizes the importance of a fully connected environment, ensuring robust Wi-Fi access both indoors and outdoors to facilitate collaboration and productivity.
Senior managing director Paul Bennett highlighted the goal of retaining tenant employees within the building, fostering a dynamic workspace that encourages movement and on-the-fly meetings.
The recent surge in office construction in Uptown—where nearly 75% of the 2.7 million square feet under development exists—has drawn considerable attention from business experts.
Several factors contribute to this trend, including the neighborhood’s walkable nature and its diverse mix of residential, dining, retail, and entertainment options that appeal to modern corporations seeking a competitive edge in attracting top talent.
Granite Properties is acutely aware of these dynamics, recognizing that proximity to such amenities enhances the office experience.
As Aaron Bidne, senior director of development with Granite Properties, stated, the design and location serve to bolster employers’ ability to draw in the best talent from various industries such as consulting, finance, and law.
This strategy has already yielded results for 23Springs, which achieved a remarkable 63% occupancy rate just upon opening, with more tenants anticipated to finalize negotiations soon.
Among the tenants, Bank OZK stands out as the lending partner and lead occupant, having secured a 136,000-square-foot lease for its Dallas hub at the new development.
Big Four accounting firm Deloitte is also set up in the building, occupying 110,000 square feet, while law firm Sidley Austin has decided to expand from its previous location at McKinney & Olive, another Granite property.
Bennett noted the seamless transition for Sidley Austin, thanks to Granite’s ownership of both properties, easing their relocation process while already generating interest in their former space.
Granite Properties maintains a focus on specific micro-markets within Uptown that offer a competitive advantage for future projects.
The site for 23Springs previously hosted a near-fully occupied office complex before Granite opted to redevelop the area into a luxury speculative office tower.
Looking ahead, Granite’s ability to break ground on such expansive office projects amid a restrictive lending market sets it apart from many developments stalled by financial challenges.
Bidne remarked that the timing of launching 23Springs was crucial, suggesting that a delayed start could have hindered progress—an indication of the current market landscape where few others are executing similar developments.
Despite rising demand for limited office spaces that have driven up rental rates in Uptown, Bennett noted that the project remained unaffected by broader economic uncertainties.
Securing financing before interest rates increased in 2022 has allowed the developers to maintain planned rental rates for the office spaces, contributing to the project’s financial viability.
As demand for premium office spaces in Uptown continues to elevate, both Bennett and Bidne predict an upward trajectory in rental rates, with prestigious assets like 23Springs fueling further interest in office developments in the area.
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