Uptown Dallas' McKinney & Olive has reportedly changed hands.
Granite Properties and Highwoods Properties Inc. have partnered to acquire Uptown Dallas' McKinney & Olive.
According to a news release from Highwoods, the joint venture’s total investment is expected to be $394.7 million. "McKinney & Olive is a solid bull’s eye with its prime infill location in a top tier submarket and financially sound, diversified customer base. Plus, with rents estimated to be 35% below-market, McKinney & Olive provides meaningful NOI upside potential,” said Highwoods President and CEO Ted Klinck in a prepared statement.
The property, designed by Cesar Pelli of Pelli Clarke Pelli and developed by Crescent Real Estate and JPMorgan Asset Management in 2016,McKinney & Olive, which aptly sits on the corner of McKinney Avenue and Olive Street in what is arguably Dallas' most vibrant submarket for office, spans more than 492,000 square feet of office space and nearly 50,000 square feet of retail. It also features a Canyon Ranch-designed fitness studio.The project cost was estimated at about $225 million.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Adam Sandler sets tour stop in Dallas after ‘Hustle’ movie spotlights Dallas MavericksSandler worked with Mavericks and ex-Mavericks in the making of ‘Hustle,’ in which he plays an NBA talent scout.
Read more »
Mayor's Inaugural Distinguished Service Awards Ceremony Held in DallasFive Dallas leaders were honored Thursday with the Dallas Mayor’s first distinguished service awards.
Read more »
Olive Garden parent Darden Restaurants posts lower profit but beats estimates, shares riseDarden Restaurants Inc. undefined shares rose 1.7% in premarket trades Friday after the company beat analyst estimates for second-quarter earnings and...
Read more »
Magic City Grille among historic Birmingham properties acquired by New Orleans firmThe firm is known for developing Hotel Saint Vincent and The Drifter Hotel in New Orleans, among other projects, and is part of the team developing the Mountain Chalet hotel in Aspen, Colo.
Read more »
Olympia man indicted on federal charges of damaging religious propertiesA 50-year-old Olympia man, Mikey Diamond Starrett, was indicted Tuesday by a federal grand jury for three arsons that damaged or destroyed three Jehovah's Witness Kingdom Halls in 2018, according to the Department of Justice.
Read more »
City eyes properties around proposed downtown Saskatoon arena siteFormer STC bus terminal among three sites council are asked to approve buying as part of $17.3 million plan in support of event centre.
Read more »