Providence Towers

Jones Lang LaSalle, Inc. (“JLL”), as an exclusive advisor, is pleased to present the opportunity to acquire Providence Towers (the “Property”), a twelve story, 524,143 square foot class A office building located on the Dallas North Tollway (the “Tollway” or “DNT”) in the epicenter of the Dallas Metroplex. The Property has been institutionally owned and maintained throughout its history, most recently with renovations to the cafe and tenant lounge, but also maintains the potential to reposition the timeless asset with an enhanced amenity offering.

Located at the northwest corner of the Dallas North Tollway and Spring Valley Road, Providence Towers benefits from a central location in the Dallas’ Lower Tollway submarket. Decision makers and their employees choose the building for its adjacent access to the north/south Dallas North Tollway and proximity to the east/west I-635 and LBJ Freeway, allowing tenants easy access to virtually every node in the DFW Metroplex. Further, the surrounding area provides walkable and drivable access to some of Dallas’ best restaurants, attractions, and hotels.

The Lower Tollway office submarket has continued to outperform the broader metroplex as a result of well repositioned assets and the central location to the corporate employee base. The Providence Towers competitive set has experienced this growth and is 85%+ leased with material increases in rental rates after thoughtful renovation. With in-place rental rates 27% below market, a 5.8-year WALT and 62% occupancy, Providence Towers offers the opportunity to acquire an institutionally owned and maintained asset in one of Dallas’ leading submarkets with the ability to drive material value through leasing and mark-to-market.