Retail

Mockingbird Station®

5307, 5319, 5321 & 5331 E. Mockingbird Lane, Dallas, TX, 75206, US

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Mockingbird Station®_Property for Sale

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Mockingbird Station® 2_Property for Sale

Asset Description

Mockingbird Station® - Jones Lang LaSalle (“JLL”) is pleased to extend the opportunity to acquire Mockingbird Station® (the "Property" or the "Offering"), a premier open-air, mixed-use shopping and entertainment destination with high-performing, Class A Retail, Office, and Multi-Family fostering  a true live, work, play environment. The Property, located at the northeast corner of East Mockingbird Lane and US-75, one of Dallas' most heavily traveled thoroughfares on North Central Expressway, with over 300,000 cars per day, sits adjacent to SMU and Dallas’ most prestigious neighborhoods University Park and Highland Park. The 90% leased, mixed-use asset presents investors with the rare opportunity to control 8.9 acres of irreplaceable real estate in a best-in-class trade area with robust in-place cash flow, substantial value enhancement opportunity, and long-term densification of the Property. Additionally, the Offering presents the unique ability to assume attractive in-place financing at a drastically below market cost of 3.88%.

Attributes

Building area gross
52,599 m²
Occupancy
90.00%
Year built
2001

Investment Highlights

- SYNERGISTIC MIXED-USE "URBAN VILLAGE" IN DALLAS' URBAN CORE BOASTING 300,000 VPD

- TRANSIT-ORIENTED DEVELOPMENT WITH DIRECT ACCESS TO THE DART AND KATY TRAIL

- $3.3B+ ESTIMATED ANNUAL CONSUMER SPENDING WITHIN 3 MILES

- 8.9 ACRE SITE WITH LONG-TERM DENSIFICATION & REDEVELOPMENT POTENTIAL

- 197,670 SF OF RETAIL AT 92% LEASED WITH A 7.0 YEAR WALT

- 96% LEASED LOFTS AT MOCKINGBIRD STATION® ACHIEVING 16% LEASE TRADE OUTS FOR RECENTLY RENOVATED APARTMENTS

- 76% LEASED OFFICE PROVIDES IMMEDIATE VALUE ENHANCEMENT VIA LEASE-UP

Mockingbird Station® 4_Property for Sale
Mockingbird Station® 4_Property for Sale

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Last updated
1 Mar 2023