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District 114, a four-story, mixed-use office building with ground floor retail totaling 94,990 square feet in Southlake, Tx
DALLAS, May 28, 2020 – JLL Capital Markets announced today
that it has arranged construction financing for District 114, a four-story,
mixed-use office building with ground floor retail totaling 94,990 square feet
in Southlake, Texas.
Working on behalf of the borrower, Medici Development Partners, LLC, JLL
placed the five-year, floating-rate construction loan with Happy State Bank
& Trust.
Due for completion in the second quarter of 2021, District 114 will offer
69,878 square feet of office space and 25,112 square feet of retail space.
The property will have average floor plates of 24,000 –
29,000 square feet and offer tenants a fourth-floor outdoor patio, a 322-space
parking facility and direct access to Texas Independence Park featuring outdoor
work and patio space.
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| De’On T. Collins |
The 3.3-acre site is
positioned within Kimball Park, a 17.58-acre, walkable mixed-use development
that also includes a Cambria Hotel, The Office at Kimball Park and
restaurant/retail space.
Tenants at District 114 have access to the amenities at the
adjacent Cambria Hotel and Conference Center, which include a fitness center,
pool, restaurant, meeting facilities and executive boardrooms.
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| Steve Heldenfels |
The project is located in Southlake, an affluent suburb of
Dallas and a corporate headquarters hub for many Fortune 1000 companies.
District 114 has exceptional regional access to the entire
Dallas Fort Worth Metroplex via State Highways 114 and 121 and is close to the
Dallas Fort Worth International Airport, Southlake Town Square, Park Village
and The Shoppes at Southlake.
The JLL Capital Markets team representing the borrower was led by Senior
Director De’On Collins and Managing Director Steve Heldenfels.
For more news, videos and research
resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
CONTACT:
Kristen Murphy
JLL Senior Manager
Public Relations
Phone: +1 617 848 1572
Email: Kristen.Murphy@am.jll.com
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