In January 2024, Deloitte signed a long term lease for over 100,000 SF of office space at 23Springs, a new office development near The Crescent in Uptown Dallas. The property, which broke ground in 2022, is being developed by Granite Properties and Highwoods Properties, the latter of whom joined the project after its groundbreaking. The 26-story tower was designed by GFF Architects and DPR Construction is serving as the general contractor for construction. The tower, with an expected completion date in 2025, received $265mm of construction financing from Bank OZK, who will also be leasing space in the property.

While 2022 was certainly not the best year to launch construction of a new office building, the development has focused upon key features that will draw in tenants despite the weak market. Beyond its prime location in Uptown Dallas, the property features amenities that have helped it to draw in two major, creditworthy tenants well before completion. These include:

  • Half acre park at street level
  • 17,000 SF of upscale restaurant space
  • Underground parking with 24/7 security
  • Onsite valet parking
  • Customer lounge center
  • Conference center
  • Two-story lobby complete with a coffee-and-wine bar
  • A golf simulator
  • Outdoor lounge/meeting area with TVs and Wi-Fi
  • Bike storage
  • A 4500 SF fitness studio

The building's curb appeal ensures a good first impressionSource: Granite Properties

Investors have clearly taken note of the need to provide an upscale office environment to attract tenants. The ease of office downsizing for companies that have embraced hybrid/remote working arrangements means cubicle farms will likely be left empty. Properties like 23Springs will hopefully make workers want to come into the office both to meet with clients and to have a pleasant experience.