Businesses looking for new digs in Dallas' Design District have some bright new options.
For decades, the former warehouse district has attracted small businesses seeking unique office space near the Trinity River northwest of downtown.
Recently, high-rise apartment buildings, new restaurants, and luxury hotels have been built in the Design District.
But the two office buildings just opened by Quadrant Investment Properties are the area's first brand new modern office addresses.
“The neighborhood seems to be very receptive to it,” said Quadrant founder Chad Cook. “We're getting a lot of positive feedback. Rental activity is going well.”
Together, the two buildings at 155 Riveredge Drive and 1333 Oak Lawn Avenue are less than 300,000 square feet.
The office offers tenants two different workplace styles.
Located near the Trinity River, the exterior of the five-story River Edge building is dotted with balconies, terraces, and entrance plazas that combine to provide more than 14,000 square feet of outdoor space.
The two restaurants are located on the ground floor facing Riveredge Drive.
“We had a vision and pushed the boundaries of traditional offices,” Cook said. “That's what people want now. They don't want to sit at a desk all day. We always want to have a place where people can work outside of the space they rent from us. ”
The building was designed by Merriman Anderson Architects with an industrial feel.
“We're in an old warehouse district,” Cook said. “We very intentionally tried to appeal to the neighborhood, but also to tenants in uptown and other urban markets who are looking for something different than the traditional tall glass and steel towers.”
With multi-tenant locations, eye-catching artwork, and postcard-like views of the downtown skyline and Margaret Hunt Hill Bridge, River Edge buildings are on par with Uptown's best properties.
River Edge's largest office floor spans over 30,000 square feet and features floor-to-ceiling windows.
“A lot of people think of the Design District as the small, creative class of businesses that wanted to use old warehouses,” Cook said. “We wanted to cater to a larger group. Law firms are very interested in this.”
Rents in the new building start at about $48 per square foot, more than a quarter cheaper than uptown's newest luxury offices.
Commercial real estate firm Transwestern leases both buildings in Quadrant.
“The response from the securities industry and leasing prospects has been very positive and has come from a wide range of industries,” said Paul Whittorff, Transwestern's executive managing director. “Each building offers a truly unique opportunity for our tenants to create a special experience for their employees in one of the coolest neighborhoods in Dallas. There is nothing like it in Dallas.”
Quadrant's Thirteen-Thirty Three Oak Lawn building is just four blocks from the River Edge offices, but the atmosphere is very different.
The 10-story building has five floors of offices on the upper floors and room for a restaurant on the ground floor. The 9th floor amenity floor, featuring a lounge, bar and fitness center, offers sweeping views of Uptown and the Oak Lawn District.
Merriman Anderson Architects also designed the Oak Lawn Avenue Tower.
Quadrant has partnered with neighboring Erin Cluley Gallery to display eye-popping artwork in its new office tower.
“We designed the lobby to essentially function as an art gallery,” Cook said. “We'll be rotating three or four shows throughout the year.”
The developers sourced much of the decor and furniture for the two buildings from Design District businesses. “We sourced a lot of locally sourced furniture,” says development director Brian Botterman. “It's like a nice boutique hotel.”
Quadrant entered the Design District several years ago with partner FCP (formerly Federal Capital Partners) by purchasing an old commercial property. FCP is also a partner in his two new office buildings.
The first redevelopment transformed an old warehouse and showroom building on Manufacturing Street into approximately 90,000 square feet of boutique office space.
Before heading to the Design District, Quadrant renovated office buildings in Oak Lawn and downtown.
The River Edge and Thirteen Oak Lawn buildings are the developer's first new construction projects.
“We've never done a ground-up project before,” Cook said. “We are bullish on the office market, even though sometimes it seems like we are the only ones.
“I think we’re aiming for something different.”
