Monday, February 03, 2014

Construction starting on North Dallas office and retail project 

A new 5-story office and retail building is to be developed at The Shops at Park Lane development on North Central Expressway in Dallas. (Shops at Park Lane)
The owners of The Shops at Park Lane development on North Central Expressway in Dallas have broken ground on three new buildings.
The largest of the additions is a 5-story office and retail building in the project at the southeast corner of North Central and Park Lane. The project across from NorthPark Center mall will contain about 120,000 sqquare feet of office space plus 30,000 square feet of retail on the ground floor.
Two separate restaurant buildings will be constructed nearby. And a public plaza area will be built, too.
“We are excited to be moving forward with this important phase of The Shops at Park Lane,” Sandy Spurgin, vice president of Northwood Retail, said in an announcement. “The expansion brings an outward identity to the project as well as a heartbeat in the form of the plaza.
“The leasing velocity over the past 24 months combined with the strong sales being produced by the existing retailers has resulted in a strong response from targeted retailers.”
The existing office space at The Shops of Park Lane is now about 94 percent leased.
Gensler designed the new buildings and the general contractor is The Beck Group.
The entire development has been owned by New York-based Northwood Investors LLC since 2010.
The 33-acre project includes retail, apartments and office space.

A new public plaza and two restaurant buildings will also be constructed. (The Shops at Park Lane )