On April 16, 2024, JLL's Capital Markets group announced they have successfully arranged $290mm in construction financing on behalf of Dallas-based Pacific Elm Properties. Designed by New York-based KPF, Bank of America Tower At Parkside's four-year construction loan is being funded by Goldman Sachs Alternatives' Real Estate group and will be subject to a floating interest rate.

Located directly across the street from Klyde Warren Park, the aptly named project will host approximately 500,000 of space across 30 stories, with 49% of it already leased to Bank of America. The office tower joins other new office buildings in the Uptown submarket boasting a "Class AA" rating in having credit tenants pre-lease space well before completion. JLL's research department has documented the strength of such "highly amenitized" buildings. For instance, buildings such as Parkside with roof/sky terraces command a 5.2% rent premium over their terrace-less peers.

The visually striking greenery will make the tower stand out in the Dallas CBDSource: KPF

The project focuses heavily on natural light, KPF explaining their central goal was to "humanize the office building typology". Parking will be mixed between above and below ground and retail space, a prime commodity in the area, will occupy the ground floor. Interestingly, the building will specifically feature a "daylit primary staircase", allowing workers the option to take the stairs to their office without being in a dark shaft. Another unique feature is the building core itself: KPF has opted to "side-load" the core structure of the building, allowing for more open floor plans that take full advantage of the natural light from three sides of the building.

Other amenities featured include the following:

  • Sky lobby and lounge
  • Outdoor tenant terraces
  • Tenant-only fitness facilities