Dallas Communications Complex II - IV

Irving, TX, US, Americas

Description

Jones Lang LaSalle Americas (“JLL”) presents an exclusive investment opportunity featuring the Dallas Communications Complex (the “Property,” “Properties,” or “Asset”), a distinguished 323,488 square foot multi-tenant flex office portfolio located at 300-400 E. Royal Lane in Irving, Texas. With 410,870 households within a 10-minute drive, this strategically positioned asset benefits from its advantageous location in the center of the Dallas / Fort Worth Metroplex and immediate proximity to DFW International Airport, positioning it within one of the region’s most concentrated business districts. Dallas Communications Complex offers stable cash flow from a diverse tenant mix of production, consulting, logistics, and more. With 4.1 years of WALT, 67K SF of immediate lease up opportunities, and below market rents, investors have an exceptional opportunity to acquire this 79% leased property in one of Las Colinas’ prominent flex office nodes.

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Attributes

Building area gross

323,488 sf

Occupancy

79%

Year built

1982

Land area gross

18.1 acres

Dallas Communications Complex II - IV (3 Properties)

Media

Investment highlights

DIVERSE TENANT MIX
The Property is supported by a diverse tenant base, consisting of media production, IT, consulting, medical, technology development, and more, with an average tenant tenure of 3.1 years.
VALUE-ADD OPPORTUNITY
Immediate lease-up potential of 67K SF of availabilities coupled with mark to market rent upside. Additionally, investors have the opportunity to reconfigure excess office suites and increase functionality of flex warehouse space to meet tenant demand.
POTENTIAL TO OPTIMIZE SITE USAGE
Dallas Communications Complex has substantial upside through the 18 continuous acres of land with flexible M-FW zoning. This presents a rare opportunity to acquire a large, infill assemblage that can be redeveloped into a variety of uses including warehouse, manufacturing, office, laboratory, and more.
HIGHLY DESIRABLE LOCATION
The Property is strategically located within the Office Center / West LBJ Exit office submarket, boasting proximity to DFW International Airport and convenient highway access to President George Bush Turnpike and Highway 114. The surrounding area is a popular destination for large corporations, industrial manufacturing and distribution facilities, and of out-of-state corporate relocations to DFW.
SUPERIOR SURROUNDING DEMOGRAPHICS
Dallas Communications Complex is well positioned near some of DFW’s densest population nodes, with nearly 1.6 million people living within a 20-minute drive of the Property. The Property is adjacent to thriving suburbs, including the coveted Las Colinas community, with an average household income of $143,723 and average home value of $565,764 within a 10-minute drive.