Knox Street tower lands major tenants with opening later this year

A new office and retail tower north of downtown Dallas has won a main tenant, and more are in the pipeline.

The 12-story Weir’s Plaza has been under construction for about two years. It is the largest extension of the Knox Street neighborhood in Dallas, which is located west of US Highway 75.

The tower on Knox and Travis Streets replaces the 70-year-old Weir’s Furniture store, which closed in 2019 to make room for the project.

Weir’s will reopen early next year as part of the retail area of ​​the new building.

“We’re almost done with the exterior of the building,” says Justin Schoellkopf, co-founder of the project developer Four Rivers Capital. “Now that we’re done within six months, we’re giving tours of the building three to four times a week.”

Weir’s Plaza just signed a major office lease with Fortress Investment Group LLC, a New York-based investment management firm.

Fortress Investment occupies 47,850 square feet of office space in the building.

“This announcement underscores our long-term commitment to the North Texas region,” said Drew McKnight, managing partner of Fortress, in a statement. “Our office in Weir’s Plaza is a perfect complement to our existing location in Irving and offers flexibility for the further organic growth that we expect in our lending business.”

With more than $ 53 billion under management, Fortress Investment already employs more than 50 people in an Irving office. The company appoints two new Fortress executives, Drew McKnight and Josh Pack, to the Weir’s Plaza office on the edge of Highland Park.

Fortress Investment will join the Kirkland & Ellis law firm, which will occupy 65,986 square feet of office space in the tower.

With the two large office leases, more than 65% of the building has been awarded.

“We not only get tenants, but also quality tenants,” said Schoellkopf. “That is the ultimate indicator of a successful project.”

Work teams lay stones on the walls of the office lobby in Weir’s Plaza Tower. The first tenants are expected to move into at the beginning of 2022.(Steve Braun)

Schoellkopf said the $ 155 million project will be delivered later this year, with the first tenants moving in early 2022.

JE Dunn Construction Co. is the general contractor.

The exterior of the landmark Highland Park Soda Fountain building on the corner has been preserved. “The building is used as a restaurant,” said Schoellkopf. “It will house an urban, two-story concept.

“The approximately 12,000 square foot front on Knox Street will be for restaurants and retail.”

The developer expects about three or four tenants to take over the retail / restaurant space on Knox.

Weir’s Furniture will occupy 28,000 square feet of retail space on the first two floors of the building along Travis Street. The new Weir outlet will include a terrace on the second floor for outdoor use.

The project did not stall even during the pandemic. “We are technically a bit earlier than planned,” said Schoellkopf.

Commercial real estate company CBRE is renting the building and was involved in the Fortress Investment Group’s transaction.

“This demonstrates the strong attraction Dallas has for companies as they evaluate their location strategy,” said Tommy Nelson, vice president of CBRE. “Knox District is one of the most vibrant neighborhoods in Dallas and with the existing tenant list and facilities in place, it will be the perfect location for Fortress to expand its significant footprint in North Texas.”

Dennis Barnes, Jeff Ellerman and John Ellerman of Nelson and CBRE negotiated the deal with Howard Grufferman, Billy Vahrenkamp and Brad Balke with Colliers International.

Weir’s Plaza was designed by Dallas Architect GFF.

It is the tallest new building in the popular Knox Street shopping district in decades.

Restoration Hardware retailer just completed its new furniture gallery and restaurant one block away on Knox and Cole Streets.

“The neighborhood is rising,” said Schöllkopf. “There is a new generation of developments.”

Weir’s Tower, under construction on Knox Street in Dallas, will include a new Weir’s Furniture Store on two lower levels.(Lola Gomez / photographer)

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