Uptown is One of the Most Desirable Areas in Big D

2602 McKinney Ave. has been called “Uptown’s best kept secret for office space”.

DALLAS—More than 20 years ago, a group of like-minded property owners north of downtown Dallas joined efforts to create a neighborhood unlike any that existed in Dallas at the time. In 1993, the owners formed one of the first public improvement districts in the region to accomplish something none of them could do alone: If every property owner in this community would agree to pay a small additional tax—less than 2% of their current ad valorem tax bill—then exciting improvements could be made to an area that suffered from crime and a badly decaying infrastructure. The Uptown Public Improvement District (Uptown PID) was born to unlock extraordinary development potential and create Dallas’ first live-work-play community. Today, Uptown Dallas Inc ., the manager of the Uptown PID, has realized an impressive transformation. With renewals of the PID in 2000, 2006 and 2013, these tax dollars have paid for the enhancement of public safety and security; the design and construction of public infrastructure improvements; the maintenance of common areas, lighting, pedestrian amenities and linkages that make Uptown one of Dallas’ most desirable areas. These improvements have led to the highest office rents and occupancies in the city and one of the best multifamily markets in the region in terms of occupancy, rental rates and overall desirability. An example of a marketing effort currently underway is 2602 McKinney Ave., a four-story office building totaling 40,762 square feet owned by Uptown Energy Partners LP . It has been called “Uptown’s best kept secret for office space” by one broker. And, the Uptown retail and restaurant business is thriving, in fact, among the most vibrant in the city. The walkable amenity base includes Whole Foods, One Uptown, State and Thomas retail area, The Crescent, Hotel ZaZa and several restaurants located in the heart of the Uptown Dallas submarket. PMRG , a national commercial real estate firm, was awarded the exclusive leasing assignment. PMRG vice president, Shea Byers and leasing manager, Brittany Ricketts , will lead the office leasing efforts. Byers tells GlobeSt.com: “Located in the hottest four-block corridor in Uptown, there is no competition for 2602 McKinney when it comes to location, walkable amenities and pricing, which is what makes this asset so attractive to tenants. The product is the best deal in Uptown.”