DALLAS — A partnership between KDC and Pacific Elm Properties has broken ground on Parkside, a 500,000-square-foot office development located at the corner of North Harwood Street and Woodall Rodgers Freeway in Uptown Dallas.
Bank of America has committed to be the building’s anchor tenant with a 238,000-square-foot lease, and upon move-in, the building will become known as Bank of America Tower at Parkside. The development will be home to 1,000 Bank of America employees upon completion, which is expected for the first half of 2027.
Designed by New York-based architect Kohn Pedersen Fox, the 30-story tower will feature a conference center with a training room that seats 50; pre-function and lounge space; an executive board room; break-out chat rooms; a state-of-the-art fitness center; private outdoor terraces; and a 12th-floor sky lobby and lounge with a coffee and cocktail bar.
The development is located across the street from the 5.2-acre Klyde Warren Park, which connects uptown and downtown Dallas. The tower also offers easy access to a variety of transportation options, including the M-Line Trolley, which connects to a nearby DART Rail System station.
The full development team includes Miyama USA Texas, Kohn Pedersen Fox, Corgan and OJB.
Andy Leatherman of JLL represented Bank of America on its lease, which was announced in September. Aarica Mims of KDC and Sara Terry of Pacific Elm Properties represented ownership on an internal basis.
Another large office project is underway in Dallas: a 400,000-square-foot headquarters facility for public media organization KERA. The recently announced development is also set for delivery in 2027.
The Dallas/Fort Worth metroplex ranked third in this year’s Emerging Trends in Real Estate 2024 report, which annually ranks the top 10 U.S. markets to watch. Warmer weather, more affordable housing options and strong job growth were cited as major attractors to the market.
Both KDC and Pacific Elm Properties are based locally in Dallas. KDC has developed 140 office and industrial buildings totaling 33 million square feet.
Pacific Elm Properties owns, manages, leases, invests in and develops mixed-use properties in Dallas and Raleigh, N.C. The company currently has a development pipeline exceeding 5.5 million square feet.
—Katie Sloan