A 500,000-square-foot office project planned for Uptown Dallas has received a $290 million construction loan.
The capital markets team at Chicago-based commercial real estate services firm JLL has acquired a four-year contract for Parkside Uptown from the Goldman Sachs Alternatives real estate group on behalf of developer Pacific Elm Properties. Arranged variable rate financing.
The 30-story Class AA office building overlooking Klyde Warren Park is scheduled for completion in 2027.
Nearly half of the building, located at the corner of Harwood Street and Woodall Rogers Freeway, is pre-leased to Charlotte financial institution Bank of America.
The JLL team that assisted with the construction financing included Trey Morsbach, Jim Curtin, Michael Cosby, and Greg Knapper.
Pacific Elm, led by investor Tom Dundon and CEO Jonas Woods, is developing the property in conjunction with Dallas developer KDC and property owner Miyama USA Texas.
New York-based architects Kohn Pedersen Fox Associates are working with Dallas-based Kogan to design the building. OJB Landscape Architecture is also participating in the project.
Highlights of the building's amenities include a 12th-floor “sky lobby and lounge,” a 4th-floor outdoor terrace, and ground-floor retail space.
Bank of America will leave its longtime downtown home in the eponymous 72-story tower on Main Street for a new development once completed.
