Uber’s Epic Dallas Lease
- Aug 22, 2019
Westdale Real Estate Investment and Management has landed a major tenant for what will be the second office building at The Epic, the company’s 8-acre mixed-use project in downtown Dallas. Uber signed a lease for 450,000 square feet at the transit-oriented development’s 500,000-square-foot tower.
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As noted in a Dallas City Council document, Uber had evaluated other sites in Dallas and Arizona for its shared new service center before settling on the Perkins+Will-designed Epic, which serves as the gateway to the eclectic, increasingly coveted Deep Ellum district. Westdale has been active in the revival of Deep Ellum since the early 90s, acquiring and renovating properties across the area.
Uber’s commitment marks a milestone of sorts. “The addition of the 3,000-plus Uber employees is validation of Deep Ellum as an attractive location for today’s modern workforce and will continue the development of the area into the most unique historical neighborhood in Dallas for true work, live and play,” Joe Beard, president & CEO of Westdale Real Estate Investment and Management, told Commercial Property Executive.
Per terms of the lease agreement, Uber will initially occupy 168,000 square feet at The Epic’s existing office building, the 251,000-square-foot structure at 2550 Pacific Ave., which is also home to Westdale’s headquarters. In addition to state-of-the-art workspace accommodations, The Epic’s 23-story second office tower will feature a 45,000-square-foot amenity deck with meeting space, a commissary and 15,000 square feet of retail offerings.
Per the Dallas City Council document, Uber will invest a minimum of $60 million in leasehold improvements at both office structures at The Epic. The multinational transportation network company will set up shop at 2550 Pacific by July 20 and commence occupancy at the second building in the fourth quarter of 2022.
Last piece of the puzzle
Westdale and KDC initiated construction of The Epic in 2017, and with the delivery of the second office tower, the mixed-use destination will reach completion. In addition to the two office buildings, the property is home to the Pittman Hotel, a 164-key, Kimpton-flagged lodging destination created through the adaptive reuse of the historic Knights of Pythias Temple.
The Hamilton, a 26-story tower featuring 310 luxury apartment units, comprises the residential segment of the development. At full buildout, an aggregate 55,000 square feet of restaurant and retail space will be available.
CBRE is charged with handling marketing of The Epic’s office space. Westdale relied on Dennis Barnes, Tommy Nelson and Ben Davis of CBRE for representation, while Uber engaged the CBRE team of Phil Puckett, John Ellerman and Harlan Davis to serve as its representative.