(DALLAS) – Westdale Real Estate Investment and Management (Westdale), Ivanhoé Cambridge and Hines, celebrated the groundbreaking of The Stack, a 16-story, mixed-use building with 15,000 square feet of prime street-front retail and approximately 200,000 square feet of state-of-the-art office space.
“This development represents a continuation of Westdale’s intent to partner with best-in-class real estate developers and investors to create iconic office and retail space in this most unique urban neighborhood,” says Westdale President and Chief Executive Officer Joe Beard.
“The Stack embodies the latest in human-centric design. By building this ambitious project in the vibrant Deep Ellum neighborhood of Dallas, we are proud to be contributing unique, highly-amenitized space, which will become the new standard for creative offices,” said Jonathan Pearce, Executive Vice President, Leasing and Development, Office and Industrial at Ivanhoé Cambridge. “Tenants today are increasingly demanding standout environments that allow them to deliver a differentiated workplace experience, as they seek to become the employer of choice. The Stack answers that call.”
“The Stack will be transformational to Deep Ellum and the Dallas market,” added Hines Managing Director Ben Brewer. “Its cutting-edge design will offer a first-class office experience allowing our tenants to recruit and retain top talent.”
Designed by 5G Studio Collaborative, The Stack will embody workflow and lifestyle in Dallas, together for the first time, in a Class AA building. At completion, the project will be one of Dallas’ first new construction projects to receive WELL certification. Additional sustainability measures/amenities for tenants will include electric vehicle (and potentially scooter) charging stations, an expansive 10th floor amenity terrace overlooking the Dallas skyline, state-of-the-art fitness center, state-of-the-art bicycle storage and ‘end of trip’ facilities, coffee/cocktail lounge, concierge package delivery and more. The true amenity is the location, which will give tenants over 75+ options (and growing) for breakfast, lunch, happy hour, and dinner, plus 18,000 square feet of ground floor one elevator stop away.
The Stack is scheduled to be completed in Spring 2021. Visit www.stackdeepellum.com for more information.
About Westdale Real Estate Investment & Management
Westdale is a strategic real estate investment firm that owns, develops and manages commercial projects across the country. Since 1991, Westdale has acquired 200 commercial properties in 30 cities, representing a total capitalization of greater than $4 billion. With in-house property management, leasing and construction services, Westdale’s 1,200 employees effectively drive a leading, top 50 U.S. vertically integrated commercial real estate firm. Westdale is headquartered in Dallas and has offices nationwide. For more information, please visit www.westdale.com.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held close to C$65 billion in real estate assets as at December 31, 2018 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.