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Law

Behind the Deal: Why Sidley Austin Is Moving Its Dallas Office

The law firm will occupy the top four-and-a-half floors of 23Springs, a 26-story, Class AA tower underway in Uptown.
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Sidley Austin

The new 23Springs tower in Uptown, set to open in 2026, is adding another tenant to its roster after securing a 118,000-square-foot lease from Sidley Austin. The Chicago-based law firm, which has about 2,300 lawyers in 21 offices throughout the globe, will occupy the building’s top four-and-a-half floors.

The 26-story tower, which will sit across from The Crescent, is a joint development between Granite Properties and North Carolina-based Highwoods Properties.

Sidley will occupy about 20 percent of the 626,000-square-foot building. It’s a significant expansion over the 80,000 square feet the firm currently occupies at the nearby McKinney & Olive, also a Granite Properties and Highwoods asset.

According to Yvette Ostolaza, chair of the firm’s management committee, and Scott Parel, co-managing partner, Sidley is experiencing a pressing need for more space. “We are full. We are bursting at the seams,” Ostolaza said.

The firm, which has 125 local attorneys plus business professionals, was also able to negotiate expansion rights at the 23Springs should the firm need more than its allotted 118,000 square feet in the future.

According to Parel, Sidley is expanding at record pace. “Yes, revenue is growing; yes, our clientele is growing; and yes, the number of our attorneys is growing,” he said.” The firm’s is also seeing a surge in the number of summer associates. “The incoming class is projected to exceed 25,” he said. “With each passing year, we consistently increase.”

Ostolaza told D CEO that Sidley shopped around North Texas for various options, but the draw to remain in Uptown was too great to leave. Terms of the lease were not disclosed, but Ostolaza said, “We do not sign short-term leases.”

Parel doubled down. “We wanted to stay in a Class-AA building, and we get that,” he said. “And with every new building that is built, amenities just get better and better. 23Springs is going to have an abundance of nearby restaurants, a six-story underground parking garage, which allows for more green space, and there’s even a terrace at the top of the building, which is not something we currently have.”

Additional amenities at the tower include a hospitality-driven lobby featuring a coffee and wine bar, an outdoor lounge with full AV-enabled conference facilities, an indoor lounge with a golf simulator, and a large conference center and boardroom. The building will have a fitness center, motor court, valet parking, EV charging stations, and bike storage. Sustainability features will include a rainwater harvesting system and low flow water fixtures, reducing indoor water consumption by 50 percent and energy consumption by 14 percent.

Alongside Sidley, Granite and Highwoods secured Bank OZK as a pre-construction anchor tenant. The bank will occupy more than 110,000 square feet. It also provided construction financing for the project. And just before the holidays, 23Springs brokers signed a four-floor, 104,000-square-foot lease with Deloitte, which will move its Dallas operations from Dallas Arts Tower.

23Springs was designed by GFF and the general contractor is DPR Construction.

Craig Wilson, Randy Cooper, and Greg Biggs of Stream Realty Partners represented Sidley in the transaction. 23Springs was represented by Robert Jimenez, Burson Holman, and Elizabeth Fortado of Granite Properties.

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Bridget Reis

Bridget Reis

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