Overview
Younger Partners, as exclusive advisor, is pleased to present the opportunity to acquire Town East Tower (the “Property”). Defined by consistent occupancy and revenue diversity, Town East Tower sets the standard for office space in east Dallas. Offering strong in-place cash flows, the building has a leasing track record that is the envy of the market. With more than 15 years of occupancy over 90%, the building delivers stable income with steady, predictable growth.
A prominent fixture on Interstate Highway 635 (LBJ Freeway), Town East Tower is one of just a few office buildings in the submarket. Leased to a loyal base of small tenants, the building is currently 97% leased with an average suite size of about 1,300 square feet. The tenant base has long histories in the building and offers future upside through mark-to-market renewals with limited tenant improvement costs. The most recent lease agreed to at the building has a start rate of $27.63/sf, which is more than $2.00/sf higher than the average, in-place rate.
With the momentum of strong regional growth, a limited supply of competing office product and a strategic location in a thriving suburb, Town East Tower is poised to capture sustained demand from professional, medical, and service oriented tenants. Available at a fraction of replacement cost, Town East Tower represents a compelling opportunity to acquire a high profile asset with established income and the upside of small tenant leasing in a thriving live-work-play environment.
A prominent fixture on Interstate Highway 635 (LBJ Freeway), Town East Tower is one of just a few office buildings in the submarket. Leased to a loyal base of small tenants, the building is currently 97% leased with an average suite size of about 1,300 square feet. The tenant base has long histories in the building and offers future upside through mark-to-market renewals with limited tenant improvement costs. The most recent lease agreed to at the building has a start rate of $27.63/sf, which is more than $2.00/sf higher than the average, in-place rate.
With the momentum of strong regional growth, a limited supply of competing office product and a strategic location in a thriving suburb, Town East Tower is poised to capture sustained demand from professional, medical, and service oriented tenants. Available at a fraction of replacement cost, Town East Tower represents a compelling opportunity to acquire a high profile asset with established income and the upside of small tenant leasing in a thriving live-work-play environment.
Key Facts
90% + occupancy for over 15 years.
Strong in-place cash flow and yield from diverse established tenants.
Overwhelming market demand for small tenant office amongst limited competition.
Upside through mark-to-market renewals.
Dynamic freeway location amongst and array of retail and residential developments.
Walkable dining and retail destinations.
Outstanding access to area transportation networks via ih-635, ih-30 and us-80.
Benefited by dallas / fort worth’s status as a top u.s. marketplace with a diversified economy, nation leading population and job growth.
Sizeable discount to replacement cost of approximately $450/sf.
