PGIM Leases 16,479 Square Feet At 23Springs In Uptown Dallas Represented By JLL
2323 Cedar Springs Road
Building Size
16,479 SF
Asset Type
Office
Closing
Sep 23, 2026
About this deal
AI
The property asset involved in this lease transaction is an office space located at 2323 Cedar Springs Road in Dallas, TX. The total square footage of the leased space is 16,479, situated on the 11th floor of the building known as 23Springs, which is managed by Granite Properties and Highwoods Properties.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 2323 Cedar Springs Road
- Market: Dallas, TX
- Landlord: Granite Properties & Highwoods Properties
- Tenant: PGIM
- Landlord's Representative: Robert Jimenez, Burson Holman & Elizabeth Fortado - Granite Properties
- Tenant's Representative: Scott Hage & Rachel Gorney - JLL
Representing PGIM in this transaction were Scott Hage and Rachel Gorney from JLL. The interest from PGIM reflects their commitment to expanding within the Uptown Dallas market, facilitated by the representation of Granite Properties by Robert Jimenez, Burson Holman, and Elizabeth Fortado.
Players
Cedar Springs Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93