Westdale Inks 105 KSF in Leases at Epic Dallas Project
- Feb 13, 2019
The first names are now in place on the tenant roster for the approximately 300,000-square-foot office tower at The Epic mixed-use project in Dallas. Westdale Real Estate Investment and Management, developer of the 8-acre destination, just announced the execution of three leases accounting for roughly 105,800 square feet of the office building.
The Epic, a transit-oriented development that will also feature multifamily residences and lodging, is rising in Dallas’ Deep Ellum neighborhood on land that has been in Westdale’s possession for more than 20 years. “Deep Ellum and the east side of Downtown Dallas is a unique and authentic neighborhood attracting a new generation of urbanites,” PJ Beard, development associate, Westdale Real Estate Investment and Management, told Commercial Property Executive. “The demand for living and working in an artistic and entrepreneurial environment has incited the area to develop and come of age.”
Westdale is erecting The Epic office tower at 2550 Pacific Ave. in partnership with development and investment company KDC. The 16-story building, designed by architecture firm Perkins+Will, will encompass approximately 250,000 square feet of office space and 55,000 square feet of restaurant and retail offerings. Flexible office and coworking space provider Spaces entered into a lease agreement for 47,000 square feet of office space in the tower. In another transaction, hospitality and nightlife entrepreneur David Grutman inked a lease for 19,700 square feet on the ground level of the office tower, where he will open Komodo, the Dallas incarnation of his trendy Miami restaurant.
Westdale is the third name on the roster at The Epic office tower. The company signed on to house its headquarters in 39,100 square feet spanning one-and-a-half floors of the building.
CBRE is handling leasing at The Epic office tower, with Dennis Barnes, Tommy Nelson and Ben Davis representing the building’s ownership entity, Epic Dallas Office LP. The firm also represented the new tenants in the newly announced lease agreements. CBRE’s Steve Rigby, Baron Aldrine, Mike Kay, Peter Danna and Mike Cleary represented Spaces, while Jack Gosnell and Elizabeth Herman stood in for Grutman.
Balfour Beatty is the general contractor for the office project, which is scheduled to reach completion in the first quarter of 2019.
Live-work-play, Dallas style
In addition to the office tower, The Epic mixed-use project will encompass The Hamilton, a 310-unit luxury residential high-rise, and The Pittman Hotel, a 164-key adaptive reuse of the historic Knights of Pythias Temple. Westdale is partnering with StreetLights Residential on the housing component and VineTower on the hospitality segment.
The Epic is on a growing list of mixed-use developments of varying size in the Greater Dallas area. The larger projects include The Realm at Castle Hills, Bright Realty’s $1.5 billion development currently underway on a 324-acre site in Lewisville. Most recently, Centurion American Development Group purchased the 1.1 million-square-foot Collin Creek Mall and the adjacent Sears property in Plano, with the goal of transforming the site into a $1 billion mixed-use destination.
At The Epic, Westdale expects The Pittman Hotel and The Hamilton residential building to achieve substantial completion in the second and third quarter of 2020, respectively.
Image courtesy of Westdale Real Estate Investment and Management