In the News

Colliers International has been reported to be leasing about 40,000 square feet of office space in Park Seventeen.

The sleek and decidedly modern tower fits in nicely in Dallas’ Uptown Section. Once completed, Park Seventeen will cost $200 million and will consist of 2.2 acres of mixed-use development.

Park Seventeen consists of two towers: the first tower will include 362,000 square feet of office space developed by Granite and the second tower will house 292 luxury Gables apartments.

Lease Negotiations under Way

In addition to Colliers International, this piece of Uptown Dallas real estate is in the midst of signing a handful of other tenants; there are currently three tenants in active negotiations. If the space is leased, these new tenants will occupy about 100,000 square feet of space.

These new tenants are great news for Park Seventeen, to say the least, as building and leasing space in today’s challenging economy can be quite difficult. Park Seventeen was one of the last projects to get off the ground before construction for office buildings came to a stop last year.

The developers of Park Seventeen have noted that the market for Uptown Dallas real estate has improved dramatically compared to the first three quarters of 2009.

Seventeen McKinney

The Granite office tower, called Seventeen McKinney, offers office space for about $34 per square foot, plus electricity.

Gables at Park Seventeen

The Gables apartment tower, called Gables at Park Seventeen, features 20 stories and six levels of parking. Apartments are expected to be ready for occupancy as early as next month. Prices for the apartments will start at about $1,700 per month and about $5,000 to $6,000 per month for the six penthouse units.

The apartment homes of Gables at Park Seventeen will range in size from 1,100 square feet to 3,000 square feet.

Both towers are connected with a one-acre landscaped deck, which is located in the seventh floor of each building. This landscaped deck also allows the offices and residential towers to connect.

Once completed, Park Seventeen will feature 320,000 square feet of residential space; 14,000 square feet of retail space and 375,000 square feet of office space.

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