DALLAS--Investors Mike Terry and Holt Lunsford have announced plans for a 14-story office building in Uptown.
The 125,000-square-foot glass tower will be located adjacent to the Crescent at Maple Avenue and Mahon Street on a one-acre site that includes The Old Warsaw Restaurant. It will be designed for high-security family offices and will feature smaller floor plates ranging from 7,500 to 11,000 square feet to accommodate full-floor users. The pair plans to break ground in the first quarter of 2016.
"2620 Maple Avenue is in an unbelievable location in the heart of Dallas' financial district, within walking distance to some of the city's best amenities,” Lunsford told GlobeSt.com. “We have designed the building with a true owner's philosophy for like-minded family offices who want this level of quality and attention to detail. The finalized building will be a true legacy asset for generations to come."
The partners will move their companies M. Terry Enterprises and Holt Lunsford Holdings into the building upon completion. In addition, several family offices have expressed interest in investing and occupying space in the building.
The building, designed by Gensler, will feature a private tenant lounge on the first floor. In addition, tenants will enjoy exclusive access to an eighth floor entertaining space for hosting private events. The space will open to an outdoor balcony offering views of the downtown skyline and Uptown. Additional amenities include on-site security and private underground parking.
Plans also include a detached, high-end 7,500-square-foot restaurant. The group has hired JLL and Stablemade Retail Group to assist with the search for an established restaurant operator for the space.
Lunsford and Terry purchased the property from longtime owner, Al Heidari. The three building site includes two vacant buildings as well as the restaurant, which will continue operating for the duration of its current lease through 2015.
“I have watched Uptown undergo major transformations,” says Old Warsaw owner Heidari. “This was an opportune time to sell.”
Holt Lunsford Commercial will handle the development, leasing and on-site property management. Newt Walker served as the broker for the land transaction.
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