Crescent Real Estate Holdings has achieved a major coup by leasing space to two Los Angeles-based advertising agencies expanding into Dallas. The new tenants, Saatchi & Saatchi and Team One, have agreed to lease a minimum of 52,000 square-feet in McKinney & Olive, Crescent’s newest high-rise office tower in Dallas’ Uptown. Saatchi & Saatchi is the agency of record for Toyota and sister company Team One is the agency of record for the Lexus brand. The tenants were represented by Matthew Miller, vice chairman of Cresa in the transaction. John Zogg, managing director of Crescent Real Estate Equities represented the owner. Both Saatchi & Saatchi and Team One’s Los Angeles offices will remain open.
Paul Silverman, executive director and managing director of Team One Dallas, commented: “A space like McKinney & Olive will allow our teams to work collaboratively and seamlessly with our Playa Vista headquarters, along with our other offices in New York, Atlanta, Washington, D.C., and Chicago. A world-class city like Dallas will provide inspiration and fresh thinking to our offices and clients both around the corner and the globe.”
Saatchi & Saatchi and Team One join Gardere Wynne Sewell LLP and Sidley Austin LLP at McKinney & Olive, along with a host of other firms announcing leases in coming months. John Goff, chairman and chief executive officer of Crescent Real Estate Equities, says interest is extremely high and they anticipate being fully leased before the building opens.
McKinney & Olive is a Class-A 503,000 square-foot mixed-use project designed by Pelli Clarke Pelli Architects. The tower features a two-and-a-half story lobby and a 1-acre piazza and community gathering space. The corners of the building have been specially designed to be column-free so that the floor-to-ceiling glass walls offer stunning unobstructed city views up and down McKinney Ave., throughout Uptown, over to downtown Dallas’ Arts District and Klyde Warren Park.
McKinney & Olive will feature state-of-the-art security, destination elevators, an outdoor landscaped garden on the fifth floor, a fitness center and a conference center. In an effort to serve customers and the community, 50,000 square feet of McKinney & Olive is dedicated to ground-floor retail, including its flagship restaurant Del Frisco’s Double Eagle Steakhouse.
Completion of McKinney & Olive is set for late summer 2016.