DALLAS – April 11, 2023 – Granite Properties, a commercial real estate investment, development, and management company, today announced the opening of Granite Place II at Southlake Town Square in Southlake, TX, a highly desired suburb of Dallas-Fort Worth. The Class-A, 5-story, 143,500 square feet office building is steps from upscale shops, restaurants and entertainment at Southlake Town Square, an open-air shopping district. The building is the second phase of Granite’s Southlake Town Square development and adjacent to Granite Place I, which is 98 percent leased.
Granite Place II signed two leases, pre-opening, and is 18 percent leased. As previously announced, equity investment company, N5B Capital, is Granite’s equity partner for the building. The firm is also leasing 12,000 square feet for their headquarters and will bring 20+ employees to the building over time. N5B Capital was represented by Josh White and Ryan Buchanan of CBRE. Granite has also leased 13,000 square feet on the ground floor to another customer.
“The vision for Southlake has always included new, high-quality office buildings, such as Granite Place II at Southlake Town Square,” said Southlake Mayor John Huffman. “Attracting top talent and businesses like N5B Capital to Southlake underlines our long-standing commitment to recruiting and retaining businesses that help our City thrive and fuel our economic growth,” he added.
“We’re thrilled to deliver a new Class-A office destination in Southlake, TX, and delighted to welcome our customers,” said Will Hendrickson, Senior Managing Director, Granite Properties. “Granite Place II puts the needs of the modern workforce, and their wellbeing, first. Together with the great shops and restaurants at Southlake Town Square, the building is ideally positioned to help companies attract top talent and grow their businesses,” he added.
N5B Capital is the family office of the Jones family, founders of Goosehead Insurance (NASDAQ: GSHD). Goosehead previously leased office space at Granite Tower at 290, and is currently a customer at Granite’s Weslayan Tower, both located in Houston.
“We are extremely excited to be partnering with Granite Properties on this investment and to locate our headquarters in Granite Place II,” commented Mark Jones, Managing Director and Chief Executive Officer of N5B Capital. “We look forward to a long and successful relationship with Granite Properties on future projects.”
Granite Place II is designed to achieve LEED and Fitwel certifications. Amenities include:
- Outdoor work and meeting space
- Corporate living room
- Fitness center
- Grab-and-go food service
- Floor-to-ceiling windows
- Touchless entry doors and touchless fixtures in restrooms
- Clean air technology in the building’s HVAC system
- Covered parking
- Conference Center (shared by Granite Place I)
- TogetherWeConnect, Granite’s signature customer engagement program
Granite Place II will offer Ready Suites ranging from 1,900 – 5,000 square feet. Ready Suites are Granite’s move-in ready workspaces offering full access to Granite Place I and II amenities.
Located at 601 State Street in Southlake, TX, Granite Place II provides direct ingress/egress to East Highway 114. The office building is at Southlake Town Square, offering more than 120 shops, dozens of restaurants, luxury townhomes and condominiums, a Hilton hotel, and EVO Entertainment.
General Contractor, DPR Construction, kicked off construction on Granite Place II in May 2022. The building is designed by Corgan.
Granite’s leasing team, Robert Jimenez, Burson Holman and Elizabeth Fortado, is leasing Granite Place II.
About Granite Properties
Granite Properties is a privately held commercial real estate investment, development and management company founded in 1991. The firm owns 12 million square feet of high-quality office space in Dallas, Houston, Atlanta, Denver, Southern California, Boston and Nashville. Granite is an established investor, developer, and manager with a focus on sustainable, highly amenitized projects. It has completed more than $10.3 billion in real estate transactions and more than 30 million square feet of real estate development and acquisitions. Current active development projects in Atlanta, Boston, and Dallas total over 2 million square feet with total costs over $1.5 billion. Granite focuses on creating extraordinary customer experiences through mixed-use environments, rich amenities, customer-centric service, and innovative wellness features. Granite, NAIOP’s 2022 Developer of the Year, was named one of Fortune Magazine’s Best Workplaces nine times, ranking #8 on their 2022 Best Workplaces in Real Estate list. For more information, visit: graniteprop.com.
About N5B Capital
N5B Capital was established in 2021 to manage the investment assets for the family of Goosehead Insurance (NASDAQ: GSHD) Co-Founders Mark and Robyn Jones. N5B Capital has a broad investment portfolio ranging from real estate to media to health sciences to venture capital and private equity. The company also manages Flathead Ridge Ranch in northwest Montana, covering more than 125,000 acres, making it one of the largest alpine ranches in the nation.