Granite’s 626,215-square-foot downtown Dallas office project moves forward, secures lease and construction financing with OZK Bank

Granite properties, a commercial real estate investment, development and management company, today announced that it is moving forward with 23Springs. Granite signed a lease with Bank OZK (Nasdaq: OZK) and closed construction financing with Bank OZK for the project. They will occupy four floors totaling 110,029 square feet of the Class AA, 26-story, 626,215 square foot development in downtown Dallas. Contributing to the Uptown experience, 23Springs will feature two restaurant buildings and a street-level park for all to enjoy. Construction will begin in June 2022 for delivery scheduled for March 2025.

Bank OZK was represented on the lease transaction by Robert Blount of JLL and Granite was represented by Robert Jimenez and Burson Holman of Granite. John Fox of Bank OZK represented Bank OZK, and Bill Sladek and Amanda Gadison of Condon Tobin represented Granite as tenancy attorneys. Jim Curtin of JLL represented Granite in securing the construction loan through Bank OZK. Lewis Kasner and Marisela Gonzales of Jackson Walker represented Granite as development loan and investment attorneys. Nam Tran of Winstead represented Bank OZK in the loan transaction.

Conceived by GFF Architectswith CMA Construction as general contractor, 23Springs will be the largest office building in Uptown upon delivery. The elegant glass tower will feature double X-brace columns while becoming a striking new presence in the Dallas skyline.

“We couldn’t be happier to provide Bank OZK with a brand new regional headquarters in our newest development in Dallas. Bank OZK’s commitment is a testament to the project, and we look forward to realizing our vision for 23Springs together. The opportunity to expand Granite’s relationship with them, both as a client and as a lender, makes this announcement even more exciting for us,” said Will Hendrickson, Senior Managing Director, Granite Properties. “23Springs will deliver engaging experiences through modern architecture, attractive amenities and green spaces in one of Dallas’ strongest submarkets. Its multiple social spaces are designed to enhance productivity, connection and community,” he added.

Bank OZK, established in 1903 and based in Little Rock, AR, is a respected banking organization known for its excellent loan and deposit growth, asset quality and earnings. Bank OZK has over 240 offices in eight states and over $26 billion in assets.

“Bank OZK is thrilled to move into 23Springs in 2025. Granite Properties exemplifies the same excellence, innovation and collaboration that Bank OZK strives for every day,” said Brannon Hamblen, President of Bank OZK. “Uptown’s vibrant neighborhood, coupled with an exceptional array of amenities and Granite Properties’ excellent reputation, make it the perfect choice for our future home. The opportunity to fund another exceptional project for Granite makes the whole transaction even more rewarding.

23Springs amenities include:

  • a two-story lobby with a cafe and wine bar
  • an indoor lounge with golf simulator
  • a large conference center and conference room
  • an outdoor lounge with conference facilities fully equipped with an audiovisual system
  • two catering buildings positioned on either side of the office tower; a one-story building designed for several fast-casual restaurants with a terrace overlooking the park, and a two-story building planned for an upscale restaurant
  • a wooded park of half a hectare
  • private car yard
  • valet parking
  • six floors of underground parking
  • Charging stations for electric vehicles and bike storage
  • designed to achieve LEED Silver and Fitwel certifications

Focused on wellness, 23Springs will offer a premium fitness center, touchless path from garage to office, 14-foot floor-to-ceiling windows, clean air technology, energy dispatch elevators, destination and a large green space to work or meet outdoors. Sustainability features will include a rainwater harvesting system and low water flow fixtures, reducing indoor water consumption by 50% and energy consumption by 14%.

“Bank OZK’s decision to move to 23Springs demonstrates its commitment to Dallas, and this new development will allow them to continue to recruit and retain the best talent in the industry,” said Robert Blount, CEO of JLL.

23Springs is located at the corner of Cedar Springs and Maple Avenue in downtown Dallas. The Crescent Court Hotel and Stanley Korshak are across the street. The building is also close to the Dallas North Tollway, popular restaurants and retail outlets, a Whole Foods Market, and the Katy Trail. Granite Properties will begin demolishing the three existing office buildings on the 2.5-acre site in June 2022 to make way for 23Springs.

Granite’s rental team, Robert Jimenez, Burson Holman and Elizabeth Fortado, will rent from 23Springs.

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