Stonelake plans high rise office building in Uptown

Texas-based firm plans to cash in on improving office markett

2626 McKinney Avenue and Stonelake Capital partner Coleman Brown
2626 McKinney Avenue and Stonelake Capital partner Coleman Brown (Beck Group, LinkedIn)

As Texas leads the nation’s post-pandemic return to the office, another developer is planning an office highrise for Uptown Dallas.

Stonelake Capital Partners plans to build a 17-story, 180,000-square-foot office building at 2626 McKinney Avenue, across the street from Whole Foods Market, the Dallas Morning News reported. The building would open in mid-2025.

Plans for the building, designed by Beck Group, call for a glass-clad tower with an 11th-floor amenity level that will include a tenant lounge, conference and event space, a fitness center and landscaped terrace with views of the Dallas skyline. The penthouse suite will also have a 2,300-square-foot private terrace.

Stonelake bought the property in 2021. It includes two tracts — a low-rise office building and a retail building — between Boll and Routh streets that the Dallas Central Appraisal District valued at about $7.8 million combined in 2022. Matt Schendle and Zach Bean of Cushman & Wakefield will market the building to prospective tenants.

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Stonelake, a real estate private equity firm with offices in Austin, Dallas and Houston, has multiple Dallas projects in the works.

Stonelake is developing a residential tower on Taylor Street near Interstate 45 in Deep Ellum and the mixed-use Trinity Green project on Singleton Avenue in West Dallas. The firm is also redeveloping the two-block El Fenix restaurant property on Woodall Rodgers Freeway. Stonelake is also set to begin construction on the third phase of development at the Park Place River Oaks complex in Houston in July, which is expected to be completed by January 2025.

Founded in 2007, Stonelake Capital has 28 million square feet of warehouses, 8,100 units of multifamily housing and 3.3 million square feet of office space in the Austin, Dallas, Houston, Atlanta, Nashville, Phoenix, Tampa, Orlando, San Antonio and El Paso markets, according to its website.

— Victoria Pruitt