$395 Million Deal by Granite and Highwood

DALLAS – (Realty News Report) – A joint venture of Granite Properties and the Highwood Properties REIT acquired the 557,000-SF McKinney & Olive office tower/mixed-use development near Klyde Warren Park in Uptown Dallas.

The Klyde Warren Park, built on a deck above a depressed freeway, similar to what is proposed in downtown Houston, has been a magnet for new high-rise development.

Completed in 2016, the McKinney and Olive was developed in by Crescent Real Estate, a Fort Worth-based firm led by John Goff, and J.P. Morgan Asset Management.

Granite/Highwoods paid about $395 million for the project, which includes 507,000 SF of office and 50,000 SF of retail, according to Commercial Property Executive.

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