Harwood Four

DALLAS—Despite the city's economic growth, equilibrium between supply and demand has kept vacancy levels in the 21% range for the past two years, GlobeSt.com learns. While this vacancy rate is high by the standards of most markets, it is at a level that is generating rent growth. Office rent growth has been robust and rents are projected to reach all-time peaks in 2018, as the availability rate falls below 20%, according to Ten-X.

As vacancies continue to decrease, this is spurring renewals, such as those in the Harwood District. Development firm Harwood International recently announced a lease renewal there with HollyFrontier Corporation. HollyFrontier extended its lease and expanded to another floor in Harwood Four to bring the total world headquarters to 90,000 rentable square feet in the building. HollyFrontier will occupy approximately four floors at 2828 N. Harwood St.

The class-A building is the fourth out of 18 phases planned for the district. Completed in 2000, it offers 11 floors of office space including an exclusive mezzanine and penthouse atop a 10-floor parking garage. The building provides views of Harwood, Uptown area and the downtown skyline.

The lobby was designed by DMJM, Richard Keating and Lauren Rottet, and includes finishes of granite, limestone and burled redwood, with the most dramatic accent being a unique under-lit glass aggregate of more than 1 million illuminated blue glass rocks running the length of the lobby. The lobby also includes an art collection of antique horses and mounted knights in full armor from the Samurai Collection.

With a Walk Score of 92, Harwood spans 18 city blocks. Tenants will be in walking distance to the city's most notable attractions including the Katy Trail, American Airlines Center, The Ann & Gabriel Barbier-Mueller Museum: The Samurai Collection, The Ritz-Carlton Hotel, Saint Ann Restaurant & Bar, Mercat Bistro, Magnolias: Sous Le Pont, Marie Gabrielle Restaurant and Gardens, The Grove at Harwood, Happiest Hour, Dolce Riviera and the Dallas Arts District.

Harwood International is best known for transforming the Uptown Dallas neighborhood into the acclaimed district of Harwood featuring office, residential and retail space set within a park-like campus with gardens and art-filled lobbies. The district will continue to grow, including more than $3 billion in office, retail and residential development.

David O. Roehm and Kelly Whaley of Harwood International negotiated the lease with Bill McClung, Mike Wyatt and Barrett Jones of Cushman & Wakefield of Texas Inc. HollyFrontier is one of several companies on the tenant list in Harwood, which includes Amegy Bank, The Boston Consulting Group, Frost Bank, Jones Day, MoneyGram, Polsinelli, Rolex and Winstead.

HollyFrontier Corporation, headquartered in Dallas, is an independent petroleum refiner and marketer that produces products such as gasoline, diesel fuel, jet fuel and other specialty liquids.

Harwood Four

DALLAS—Despite the city's economic growth, equilibrium between supply and demand has kept vacancy levels in the 21% range for the past two years, GlobeSt.com learns. While this vacancy rate is high by the standards of most markets, it is at a level that is generating rent growth. Office rent growth has been robust and rents are projected to reach all-time peaks in 2018, as the availability rate falls below 20%, according to Ten-X.

As vacancies continue to decrease, this is spurring renewals, such as those in the Harwood District. Development firm Harwood International recently announced a lease renewal there with HollyFrontier Corporation. HollyFrontier extended its lease and expanded to another floor in Harwood Four to bring the total world headquarters to 90,000 rentable square feet in the building. HollyFrontier will occupy approximately four floors at 2828 N. Harwood St.

The class-A building is the fourth out of 18 phases planned for the district. Completed in 2000, it offers 11 floors of office space including an exclusive mezzanine and penthouse atop a 10-floor parking garage. The building provides views of Harwood, Uptown area and the downtown skyline.

The lobby was designed by DMJM, Richard Keating and Lauren Rottet, and includes finishes of granite, limestone and burled redwood, with the most dramatic accent being a unique under-lit glass aggregate of more than 1 million illuminated blue glass rocks running the length of the lobby. The lobby also includes an art collection of antique horses and mounted knights in full armor from the Samurai Collection.

With a Walk Score of 92, Harwood spans 18 city blocks. Tenants will be in walking distance to the city's most notable attractions including the Katy Trail, American Airlines Center, The Ann & Gabriel Barbier-Mueller Museum: The Samurai Collection, The Ritz-Carlton Hotel, Saint Ann Restaurant & Bar, Mercat Bistro, Magnolias: Sous Le Pont, Marie Gabrielle Restaurant and Gardens, The Grove at Harwood, Happiest Hour, Dolce Riviera and the Dallas Arts District.

Harwood International is best known for transforming the Uptown Dallas neighborhood into the acclaimed district of Harwood featuring office, residential and retail space set within a park-like campus with gardens and art-filled lobbies. The district will continue to grow, including more than $3 billion in office, retail and residential development.

David O. Roehm and Kelly Whaley of Harwood International negotiated the lease with Bill McClung, Mike Wyatt and Barrett Jones of Cushman & Wakefield of Texas Inc. HollyFrontier is one of several companies on the tenant list in Harwood, which includes Amegy Bank, The Boston Consulting Group, Frost Bank, Jones Day, MoneyGram, Polsinelli, Rolex and Winstead.

HollyFrontier Corporation, headquartered in Dallas, is an independent petroleum refiner and marketer that produces products such as gasoline, diesel fuel, jet fuel and other specialty liquids.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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