(DALLAS) – Westdale Real Estate Investment and Management, Ivanhoé Cambridge and Hines today announced that Bestow, the leading digital life insurance platform, has signed an 11-year lease for 42,000 square feet at The Stack Deep Ellum, the new 16-story, mixed-use office building with 15,000 square feet of prime street-front retail and over 210,000 square feet of state-of-the-art office space in Dallas’ Deep Ellum neighborhood.
“We are excited to welcome Bestow to The Stack Deep Ellum,” said Ben Brewer, senior managing director at Hines. “Our partnership has worked with some of the best designers to create a building that will facilitate the growth of culture and employee engagement. I look forward to having the Bestow team as neighbors at The Stack and having both of our firms enjoy the amenity deck and outdoor terrace.”
“We look forward to having Bestow join The Stack Deep Ellum community,” said Jonathan Pearce, Executive Vice President of Leasing and Development, Office & Industrial at Ivanhoé Cambridge. “The Stack Deep Ellum’s innovative design along with its’ wellness-rich amenities and unique neighborhood will undoubtedly foster a sense of community, cultivate shared experiences, and support creativity and productivity for Bestow and its talent.”
“We’re thrilled to expand our footprint in Dallas and be part of this growing tech community,” said Jonathan Abelmann, Co-Founder and President of Bestow. “We were instantly drawn to The Stack Deep Ellum area of Dallas because it’s a unique, flourishing and central location with convenient access to really attractive amenities for our team. Bestow is growing rapidly, and we look forward to this new space being a central hub for our hybrid team where they can enjoy in-person collaboration that fosters creative and innovative thinking.”
Located just east of the city's Central Business District, The Stack Deep Ellum gives tenants over 75 options for breakfast, lunch, happy hour and dinner. The project is pre-certified LEED® Core & Shell, Fitwell and WELL, and it will be one of Dallas’ first new construction projects to receive WELL certification. Additional sustainability measures and tenant amenities include an innovative and touchless experience from garage to office, electric vehicle and scooter charging stations, an expansive 10th floor amenity terrace overlooking the Dallas skyline, state-of-the-art fitness center, ultramodern bicycle storage and ‘end-of-trip’ facilities, coffee/cocktail lounge, concierge package delivery, and more to elevate the office experience.
The Stack Deep Ellum is a joint venture between Westdale Real Estate Investment and Management, Ivanhoé Cambridge and Hines. Both Bestow Inc. and The Stack Deep Ellum were represented in lease negotiations by ALT+CO.
For more information on The Stack, please visit stackdeepellum.com.
About Westdale
Westdale is a strategic real estate investment firm that owns, develops and manages commercial projects across the country. Since 1991, Westdale has acquired 200 commercial properties in 30 cities, representing a total capitalization of greater than $4 billion. With in-house property management, leasing and construction services, Westdale’s 1,200 employees effectively drive a leading, top 50 U.S. vertically integrated commercial real estate firm. Westdale is headquartered in Dallas and has offices nationwide. For more information, please visit www.westdale.com.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the company holds interests in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$60,4 billion in real estate assets as of December 31, 2020 and is a real estate subsidiary of Caisse de dépôt et placement du Québec (cdpq.com), a global investment group. For more information: www.ivanhoecambridge.com.
About Hines
Hines is a privately-owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billion¹, including $81.7 billion in assets under management for which Hines serves as investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired approximately 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2020.
About Bestow
Bestow is the leading digital platform for life insurance. As both a direct-to-consumer destination and an infrastructure provider, Bestow powers instant life insurance solutions for businesses of all sizes, across any channel. In a world full of unknowns, Bestow is on a mission to make life insurance accessible to millions of underserved families by creating the best possible products and experiences that serve future generations.
