The dawning of “A Different Dallas” awaits city leaders, residents, office professionals, and visitors alike as Stream Realty Partners breaks ground on its much-anticipated Uptown Dallas office and retail development.
The national real estate services, development, and investment company headquartered in Downtown Dallas will set the stage today for its 12-floor, state-of-the-art workplace and next-generation retail space known as The QUAD. The Stream owned, developed, leased, and managed project at the corner of Routh and Howell streets will deliver in early 2024 with 335,000 square feet of Class A office space and 15,000 square feet of patio-friendly restaurant space.
“We place a high degree of intensity on anything we do in Uptown because it’s integral to our reputation as the largest home-grown commercial real estate service provider in Dallas,” said Mike McVean, one of Stream’s co-founders. “The QUAD is the largest single investment we’ve ever made in Dallas. If you’re not a big player in the urban core of your home market, then you’re not a player.”
The project is expected to play a key role in the rebirth of a site that once was home to Dallas’ first mixed-use development dating back to 1966. Its creative indoor workspaces will appeal to companies seeking to recapture their in-office culture with a host of desired amenities and services. Its unique retail offering will attract office workers during the day and area residents and visitors at night seeking adventurous flavors in a trendy atmosphere. The entire Uptown neighborhood will benefit from the plentiful lawn and green spaces.
“This is not just a financial investment for us,” said Dylan Munoz, Portfolio Manager of Stream’s investment management team. “It’s an opportunity for us to make a positive change in our community by bringing together all of the best parts of Uptown into one unique destination that Dallasites, out-of-towners, and professionals will appreciate.”
The QUAD’s office space will welcome professionals from the moment they arrive in the lobby with a curated digital art installation and plenty of natural light from floor-to-ceiling windows. The building will set a new standard in Dallas with an integrated “smart” building end-user interface. Pathogen-reducing technologies such as hospital-grade air filtration and outside air circulation on office floors are 50% higher than industry standards. Tenants will appreciate the tower’s full-service fitness studio, a top-floor outdoor terrace with expansive views, The QUAD club lounge and conference center, an acre of outdoor space, a bike valet, and dedicated underground parking. Managing Director and Partner Ramsey March And Development Director Brad Dornak lead the development effort for Stream.
“We are developing an office building for the future,” March said. “The high demand for state-of-the-art, Class AA office space in Uptown suggests that companies are investing in their environment to encourage workers to return to the office. We always start with the mantra that good design is good business. In 2022, that has never been more relevant.”
Stream Vice President Ryan Evanich and Senior Associate Marissa Parkin will work alongside the development team to lease the office space.
A collection of five restaurants ranging from 1,719 square feet to 4,645 square feet will sit directly adjacent to the office tower. Each eatery will offer alfresco dining, interiors with soul, and menus with seasonal and local ingredients. Jeremy Zidell, Michael Nagy, and Amanda Aaron with RUE Realty will lease the retail space.
The QUAD is owned and overseen by Stream’s Investment Management Platform, which leverages expertise from Stream’s 14 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively manages three discretionary commingled funds, in addition to several joint ventures, and wholly owned assets totaling 38 investments of 17.5 million square feet and approximately $2.2 billion in assets under management.