A pair of high-profile real estate industry companies have jointly acquired McKinney & Olive, a well-known mixed-use property in Uptown Dallas.
Plano-based Granite Properties, a commercial real estate investment, development and management company, and Highwoods Properties, a publicly traded real estate investment trust in Raleigh, North Carolina, have acquired the 507,000-square-foot property. It offers premium office space, 50,000 square feet of retail, and a one-acre piazza surrounded by walkable amenities not far from Klyde Warren Park and the Dallas Arts District. Spanning 3.1 acres, McKinney & Olive is located at 2021 McKinney Ave.
The transaction’s financial details weren’t disclosed.
Will Hendrickson, senior managing director at Granite Properties, called McKinney & Olive “a very strong addition to our Dallas portfolio. It embodies the highest quality in architectural design and amenities to offer a compelling and productive work experience to top talent. We look forward to serving our new customers and helping their businesses grow.”
Designed by architect César Pelli
The 20-story, Class-AA office building and retail destination is 99% leased and was designed by world-renowned architect César Pelli.
“This landmark office tower is consistent with the company’s long-term plan to develop a strong presence in Dallas,” Ted Klinck, president and CEO of Highwoods Properties, said in a statement. “This beautifully designed, amenity-rich office building is in a well-established and highly desirable location, which creates compelling and competitive environments where customers can enjoy work-placemaking at its finest,”
Granite will lease the building and its property experience team will provide the property management.
Delivered in 2016, McKinney & Olive consists of a contemporary glass office tower with an outward sloping façade, and a five-story parking garage with a stainless-steel wave design. It’s a LEED Gold-certified and Energy Star-rated office building with 10-foot floor-to-ceiling glass walls offering unobstructed views of Uptown and Downtown Dallas.
The building’s amenities include:
- A two-and-a-half story lobby featuring Carrara marble
- A fifth-floor rooftop terrace connecting to a lounge, fitness center, and conference center equipped with business support and technology
- Destination dispatch elevators
- Valet parking, EV charging stations and bike storage
- Conveniences including a market, dry cleaning, auto detail service, and shoeshine service
Piazza designed by OJB, designers of Klyde Warren Park
McKinney & Olive offers a piazza where customers and the public can gather. The piazza was designed by OJB, which also designed Klyde Warren Park, and includes a variety of shaded seating, landscaped green space, a water feature, and a fire pit.
The ground floor of the building offers an upscale retail destination featuring Del Frisco’s Double Eagle Steak House, Starbucks Reserve Roastery, Doc B’s Fresh Kitchen, Roti Modern Mediterranean, Mixt, Dry bar, and Cycle Bar. Two additional eateries, Leela’s Wine Bar, and Mexican Sugar are scheduled to open early next year.
Granite and Highwoods are also developing 23Springs in Uptown, just four blocks from McKinney & Olive. The Class-AA, 26-floor, 626,215-square-foot office project has two detached restaurant buildings and a public park, will be delivered in early 2025.
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