101 Center - University of Texas Arlington _Property for Sale

101 S Center St, Arlington, TX, 76010-7106, US

101 Center - University of Texas Arlington

Asset Description

Jones Lang LaSalle, Inc is pleased to present the opportunity to acquire 101 Center, a highly amenitized, 92%+ occupied (with residents moving in daily!) trophy student housing asset located steps away from The University of Texas at Arlington (“UTA”). Aptly located in the heart of Arlington, 101 Center benefits from Arlington’s pro-business environment, strong population growth and increasing demand amongst both in-state and out-of-state students looking to pursue education and careers within Texas.

The Property is defined by its market-leading infill location along South Center Street, offering students direct access to campus and retail. Constructed in 2018 and achieving some of the highest rents in the market, 101 Center contains 244 units and 493 beds featuring Studio, 1-Bedroom, 2-Bedroom, 3-Bedroom and 4-Bedroom floorplans. Residents can benefit from market-leading amenities such as on-site retail, fully furnished units, expansive balconies, high-end finishes, outdoor grilling pavilion and a 24-hour state-of-the-art fitness center.

The University of Texas at Arlington boasts strong fundamentals as it is currently ranked the #3 public school in Texas by the Wall Street Journal, with enrollment growing 11% from 2021 to 2022 and projections to grow 3% by 2027. With only 22% of the student body supported by on- and off-campus beds with no off-campus developments in the pipeline.

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Attributes

Year built

2018

Number of units

244

Beds

493

Occupancy

92%

Media

Investment Highlights

TOP PERFORMING ASSET AT UNIVERSITY OF TEXAS-ARLINGTON

Anchored as the epicenter of downtown Arlington, 101 Center is the top performing property at the University of Texas at Arlington. A premier location with on-site retail and dining, easy access to surrounding hot spots, and only a five-minute walk to the University, 101 Center is 92% occupied with some of the highest rents in the market.

STATE-OF THE-ART COMMUNITY IN THE HEART OF DOWNTOWN ARLINGTON

A mainstay in the heart of Downtown Arlington, 101 Center is an irreplaceable asset to Arlington’s community and a state-of-the-art project setting a standard for public & private partnerships between local municipalities and developers. Built with the highest quality by a distinguished multifamily developer in partnership with the City of Arlington, 101 Center was developed with the vision of revitalizing downtown Arlington and creating a new heart of the city and has quickly solidified itself as a mainstay in the community. Surrounded by a new central library, city hall council chamber, urban plaza and performing arts pavilion surrounding the property, 101 Center truly boasts a “live-work-play” environment.

UNSURPASSED GROWTH IN THE FASTEST GROWING MSA NATIONALLY

With a population of over 8 million residents, the Dallas-Fort Worth (DFW) Metroplex ranks as the 4th largest metro area in the country. The fastest-growing metropolitan area in the U.S. from 2021 to date, DFW added over 170,000 additional residents during this time (U.S. Census Bureau). More than two times the national average, DFW is #1 in the U.S. for projected population growth through 2026 estimated to add nearly 750,000 new residents. According to the North Texas Council of Government (NCTCOG), the regional population is projected to hit 10.5 million residents by 2040. Equidistant from Dallas and Fort Worth, UT-Arlington is in the heart of the DFW metropolitan area. In the Fall of 2023, the University experienced its seventh consecutive year of enrollment growth, with its first-year class growing over 8%.

BLUE CHIP STUDENT HOUSING MARKET

Ranked in U.S. News & World Report’s 2024 “Best Colleges,” UTA is a Tier-1 designated research university in Texas with nearly 41,000 students enrolled for the 2023/2024 Academic Year. Distinguishing itself through the university's ever-growing research portfolio, UTA spends an estimated $77 million annually in research expenditure and has an astounding $29 Billion economic impact in North Texas.

UNSURPASSED ACCESS TO RETAIL & DFW’S MAIN ENTERTAINMENT CORRIDOR

Equidistant from Dallas and Fort Worth, 101 Center is aptly located in the heart of DFW with ease of access to over 417k square feet of national and local retailers steps away from the property in addition to Dallas’ nexus of entertainment with three professional sports arenas less than a 5-minute drive from the property.