DALLAS, TX – January 07, 2016 – Trammell Crow Company (TCC) and joint venture partner MetLife, Inc. announce that PwC, a leading professional services firm providing quality assurance, tax and advisory services, has signed a long-term lease for approximately 200,000 square feet at Park District, a 916,000-square-foot mixed-use project that sits at the doorstep of the City’s Klyde Warren Park. PwC will occupy floors 12-19 of the office building. Construction is slated to begin in early 2016 and complete in the fourth quarter of 2017.
“Our people are our greatest asset, so it is important for our firm to provide an environment that aligns with the way our partners and staff want to live and work,” said Scott Moore, Managing Partner of PwC Dallas. “We’re looking forward to designing a space that will place a high priority on technology, flexibility and collaboration, enabling us to continue providing our clients with the highest level of service possible.”
Park District Tower is a 20-story office tower comprised of approximately 500,000 square feet of Class A office space and 7,000 square feet of ground floor retail. The tower is served by four levels of below grade parking. It will feature an executive lounge, first-class fitness facility, collaborative workspaces, onsite restaurants, outdoor amenity spaces, on-site banking and valet. In addition to the office tower, Park District includes a 34-story, 253-unit luxury residential tower with 13,000 square feet of retail space built by TCC’s residential subsidiary, High Street Residential. The two towers will be connected via a plaza designed by the Office of James Burnett, the landscape architecture firm that designed Klyde Warren Park.
“Park District is a one-of-a kind project that furthers connectivity between the Arts District, Downtown and Uptown, providing tenants, residents and the public a distinct immersion to Klyde Warren Park and the City,” said Scott Krikorian, Senior Managing Director with Trammell Crow Company’s Dallas/Fort Worth Business Unit. “We believe the project will be unmatched in its form and function at the epicenter of Dallas and appreciate PwC’s confidence and commitment by selecting Park District for their future workspace.”
“Our goal with Park District is to raise the bar for Uptown residents and workers,” said Kurt Day, director and regional head of real estate in MetLife’s Dallas office, “and PwC’s commitment to the project validates our success in achieving this goal.”
The project sits on the three-acre parcel between Pearl Street, Olive Street and Klyde Warren Park with direct access to I-35, I-45, US-75, Dallas North Tollway and I-30.
HKS is the project architect and the development team is seeking LEED® Gold certification for the office tower. Dennis Barnes, Celeste Fowden and Clay Gilbert with CBRE Dallas represented Trammell Crow Company and MetLife in the transaction. Phil Puckett, Executive Vice President with CBRE Dallas, along with Tim Dempsey, Vice Chairman with CBRE New York and Amy DeAngelis, Senior Vice President with CBRE Sacramento, represented PwC in the transaction. Puckett adds, “When PwC weighed their available office space options, it was clear that Park District could provide them with unblocked views overlooking the beautiful Klyde Warren Park, excellent floor plate efficiency and on-site parking along with numerous amenities within a short walking distance of the building. Park District will be an iconic project in Dallas that PwC will be proud of for many years to come.”
PwC US helps organizations and individuals create the value they’re looking for. We’re a member of the PwC network of firms, which has firms in 157 countries with more than 208,000 people. We’re committed to delivering quality in assurance, tax and advisory services. Find out more and tell us what matters to you by visiting us at www.pwc.com/US.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
With more than 100 years of real estate investment experience, MetLife is one of the largest investors in the real estate industry, with nearly $59 billion in real estate invested assets, including $43 billion in commercial mortgages and nearly $16 billion in equity investments as of September 2014. Investing in real estate provides MetLife with opportunities designed to match the long-term liabilities the company writes through its insurance products.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of September 30, 2015, TCC had $6.7 billion of projects in process and $4.0 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). For more information visit www.TrammellCrow.com.