RALEIGH - Highwoods Properties , Inc. (NYSE:HIW), in partnership with Granite Properties, has reached a new leasing milestone for its 23Springs development in Uptown Dallas, with 53% of the space pre-leased. The development, which includes 626,000 square feet of office space and 16,000 square feet of retail, has signed an additional 129,000 square feet in leases, contributing to a total of 718,000 square feet leased in the first quarter of 2024.
The 23Springs project, valued at an anticipated $460 million, began construction in the second quarter of 2022 and is expected to be completed by the first quarter of 2025, with full stabilization projected by the first quarter of 2028. Designed with sustainability and wellness in mind, the development is pursuing LEED and Fitwel certifications.
Ted Klinck, President and CEO of Highwoods, expressed confidence in the strategic direction of the company, citing the strong leasing activity not only at 23Springs but across their entire portfolio. Klinck highlighted the success in leasing both first-generation spaces in new developments and second-generation office spaces, with over 700,000 square feet leased since the beginning of the year, including 312,000 square feet of new leases.
Highwoods Properties, headquartered in Raleigh, is a publicly-traded real estate investment trust specializing in office properties, primarily located in the best business districts of major cities in the Southeastern and Mid-Atlantic United States.
The information in this article is based on a press release statement from Highwoods Properties, Inc.
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