DALLAS — An influential law firm in need of more office space has signed a large lease in one of the highest-profile new buildings on the rise in Uptown Dallas.
Sidley Austin LLP, a firm based in Chicago but with operations around the globe, leased 118,484 square feet lease in 23Springs at 2323 Cedar Springs Road, developers Granite Properties Inc. and Highwoods Properties Inc. said March 1.
Sidley Austin will take four and a half floors. The deal boosted the 26-story building to 53% leased as it moves toward opening within a couple of years.
The firm is moving from its roughly 80,000 square feet of office space at McKinney & Olive, another Uptown property owned by Granite and Highwoods. The law firm needed to expand to meet growth, but its current building was already 100% leased. It plans to move in January 2026.
Craig Wilson, Randy Cooper and Greg Biggs of Stream Realty represented Sidley Austin in the deal.
23Springs is a huge new project in Dallas' urban core as questions swirl about the office market, so leases there are welcomed news for commercial brokers and developers. Deloitte recently signed a lease for four floors while Bank OZK leased four floors in April 2022 and provided $265 million in construction financing for the high-rise.
"The development’s leasing velocity remains strong and reflects the continued robust demand for premier office space that is exceptionally located and walkable to shops and restaurants," said Paul Bennett, senior managing director at Granite Properties.
The lease bolster the area's reputation as a finance and professional services hub. Bank of America, JPMorgan Chase & Co. and Goldman Sachs have also announced plans to move workers to Uptown and the north end of downtown.
23Springs is set for completion by March 2025. General contractor DPR Construction started building the tower in June 2022. GFF designed the project.
Granite's Robert Jimenez, Burson Holman and Elizabeth Fortado are handling leasing.
Sidley Austin, whose Dallas office opened in 1996, ranked No. 7 on the Dallas Business Journal's 2023 list of top North Texas law firms with 127 local, non-contract attorneys.
