One McKinney Place Renovations Planned
One of Uptown Dallas’ hottest high-rise towers is set to go under the knife – or sledgehammer – for an extensive renovation.
McKinney Place is a highly popular Uptown Dallas address that houses a great deal of retail space and office space. The Gaedeke Group LLC recently announced that it will spend more than $5 million to update, renovate and expand the One McKinney Plaza Tower located at Hall Street and McKinney Avenue.
McKinney Place in Dallas’ dynamic Uptown section has struggled with low occupancy rates ever since a large fitness center left in 2009. The developers hope to not only update and upgrade the current space for new tenants, but also make room for additional Dallas retail space and lobby space.
Continuing to Protect the Investment
These long-term owners, who have owned McKinney Place since 1996, are showing tenants that they will continue to do what is necessary to protect their investment, both for the “present and the future.”
Glenn Lickstein, Gaedeke’s president, wants to capitalize on the popular McKinney Avenue by adding a significant amount of Dallas retail space. He says he wants “McKinney Avenue’s evolution to enhance our investment.”
More Dallas Retail Space Envisioned
The two-story wing of One McKinney Plaza that faces McKinney Avenue will be overhauled to accommodate Dallas retail space, while the ground-floor lobby will be enlarged from around 2,000 square feet to over 11,000 square feet. The building’s main entrance will be extended, along with the lobby. The result will provide additional space on both the first and second floor of the building. The 14,000 square-foot annex will then be renovated to suit Dallas retail space.
The developers expect the project to take about eight months after its start next month. BOKA Powell of Dallas is the architect for the project and Austin Commercial is the general contractor. Once the space has been renovated, the Weitzman Group has been hired to handle leasing the Dallas retail space.
Most of the vacant office space in One McKinney Place is on the third and fourth floors, which were the sight of the old Bally’s fitness center. This space is currently available for lease as office space.
