Crescent Lands Anchor Tenant for New McKinney & Olive Development in Uptown
- Apr 11, 2014
By Amalia Otet, Associate Editor
Crescent Real Estate Holdings LLC landed prestigious law firm Gardere Wynne Sewell LLP as anchor tenant for its newest development in Uptown Dallas.
Featuring impressive design by internationally renowned Pelli Clarke Pelli Architects, the 530,000-square-foot complex will sit on a 3.1-acre site at McKinney Avenue and Olive Street, the last infill space open for development in the core of Uptown.
The 20-story McKinney & Olive will be Uptown’s tallest building when completed, and, according to John Zogg, managing director of leasing for Crescent Real Estate Holdings LLC, the property will offer optimum visibility and views, as well as a premium amenity package geared toward the attraction and retention of top talent.
To be located at 2021 McKinney Ave., across the street from The Ritz-Carlton, Dallas, the Class AAA mixed-use development will offer approximately 480,000 rentable square feet of office space and two levels of retail space, totaling about 50,000 square feet. Amenities include highly efficient floor plates, 10-foot ceiling heights, state-of-the-art security and full Wi-Fi connectivity. Floor size typically will be 25,000 to 30,000 square feet, according to the developer.
Additionally, McKinney & Olive will feature three restaurants, a customer-only concierge level with a rooftop garden, a fitness center and a conference center. A lush ground-level piazza will complement the high-profile compound, offering generous open space, with almost a full acre dedicated to hardscape and landscape along Olive Street. The project seeks LEED Gold certification.
Groundbreaking is scheduled for this summer, with completion set for 2016.
Gardere has inked a 15-year lease with Crescent, with plans to occupy 109,000 square feet at McKinney & Olive.
“We’re thrilled that Gardere, one of Texas’ finest law firms, chose McKinney & Olive,” said John Goff, chairman & CEO for Crescent Real Estate Holdings LLC. “Uptown has become the epicenter for Dallas, and Gardere has recognized this and fully embraced all that McKinney & Olive offers – from Cesar Pelli’s stunning architecture and the prime, pedestrian-friendly location to the premier amenities and customer service with which Crescent has built its reputation.”
The structure’s state-of-the-art design played an integral role in Gardere’s decision to choose Crescent’s Uptown building as its new home. “McKinney & Olive is innovative. It will provide us with increased efficiencies and growth opportunities, along with the added conveniences and amenities of the Uptown area,” said Gardere Chair Holland O’Neil. “We are confident that our new home will be an Uptown landmark and will assist us in attracting and retaining clients and talented personnel. McKinney & Olive will be the place to be.”
The law firm will take over floors nine through 12 by late 2016. This move coincides with the expiration of the firm’s 26-year lease at Thanksgiving Tower. Gardere was represented by Jeff Ellerman and Phil Puckett of CBRE.
Rendering of McKinney & Olive courtesy of Crescent Real Estate Holdings LLC via official website.