Highwoods enters Dallas market with $660m anticipated investment

Highwoods Properties has entered the Dallas market through the formation of joint ventures with Granite Properties for Granite Park Six, a multi-customer office development comprising 422,000 square feet in the Frisco/Plano BBD, and 23Springs, a mixed-use development encompassing 626,000 square feet of multi-customer office and 16,000 square feet of retail in the heart of the Uptown Dallas BBD. Highwoods owns a 50-percent interest in each of the joint ventures.

Construction of Granite Park Six, which is 12 percent pre-leased, began in fourth quarter 2021, with a scheduled completion date in fourth quarter 2023 and a pro forma-stabilization date in first quarter 2026. Construction of 23Springs, which is 17 percent pre-leased, began in second quarter 2022, with a scheduled completion date in first quarter 2025 and a pro forma-stabilization date in first quarter 2028. 23Springs and Granite Park Six are designed with a commitment to sustainability and wellness and are pursuing LE