5429 Lyndon B Johnson Fwy, Dallas, TX, 75240-2607, US

The Crossings I

Asset description

Jones Lang LaSalle (“JLL”) is pleased to present the opportunity to acquire The Crossings I (the “Property”), a 232,541-square-foot, 90% leased, office building located at the crossroads of the Dallas Metroplex at the intersection of I-635 (LBJ Freeway) and the Dallas North Tollway. The Property boasts excellent visibility and frontage along LBJ Freeway and sits adjacent to the renowned Galleria shopping center, North Texas’ premier shopping destination. Over the past 3 years, the Property has benefited from its exceptional accessibility, central location, and strong institutional ownership, with the execution of over 160k SF of leases. With a stabilized occupancy and 4.6 years of WALT, The Crossings I provides stable in-place cash flow from a diverse range of tenant industries. The opportunity is offered on a fee simple basis.

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Attributes

Building area gross

232,541 sf

Occupancy

90%

Year built

1986

Year renovated

2018

WALT

4.6 years

Media

Investment highlights

STABILITY OF RENT ROLL
90% leased with a weighted average lease term of 4.6 years yielding over $27M of remaining contractual revenue
DISCOUNT TO REPLACEMENT COST
Opportunity to acquire cash flowing asset significantly below replacement cost
TRUE LIVE-WORK-PLAY ENVIRONMENT
Situated adjacent to Galleria Dallas, one of Dallas’ premier shopping destinations
HIGHLY VISIBLE AND EASILY ACCESSIBLE LOCATION
Irreplaceable location near the Dallas North Tollway and LBJ Freeway (387,522 VPD)
MARK-TO-MARKET OPPORTUNITY
20% below market rents