NORTH DALLAS INFILL OFFICE PORTFOLIOfiles.constantcontact.com/7a752393201/8e28273f-764...north...

COLLIERS INTERNATIONAL P. 1

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E XC LUS I V E A DV I S O RS :

CREIGHTON STARKCHRIS L. BOYD

TYLER LEHMANNJOHANNA RAMIREZ

COLLIERS INTERNATIONAL1717 McKinney Avenue, Suite 900

Dallas, Texas 75202

COLLIERS INTERNATIwww.colliers.com

PORTFOLIO

NORTH DALLASINFILL OFFICE

Recently Renovated Class B+ Office Portfolio88% Leased Offering Stability with Upside

In-Place Cash Flow

20% Below Market Rents

Modern Common Area Upgrades

New Cafe, Fitness Center

Established Dallas Locations

Abundant Nearby Retail Amenities


Colliers International is pleased to exclusively offer to qualified investors a 100% fee-simple interest in the North Dallas Infill Office Portfolio (the Properties, the Portfolio) located in the Lyndon B Johnson and Quorum/Bent Tree submarkets of Dallas, Texas. The Portfolio is comprised of Hillcrest Oaks, an 183,980 square-foot multi-tenant office building, and Preston Trail Atrium, a 124,586 square-foot multi-tenant office building. Together, the Properties encompass 308,566 net rentable square feet with an overall occupancy rate of 88.3%. The diverse 40+ tenants, ranging in size and industry, allow for predictable and stabilized cash flow in both Properties while enjoying steady lease expirations.

The North Dallas Infill Office Portfolio provides an attractive investment opportunity to enjoy stabilized, in-place cash flow, with the ability to increase rents currently 20% below market as existing leases roll. In addition, these assets provide an attractive alternative for tenants seeking to reduce their real estate occupancy costs from the surrounding class A office product, while maintaining highly desirable and accessible locations. As office rental rates continue increasing in neighboring submarkets of comparable desirability, such as Uptown, Legacy, as well as all of North Dallas, both Hillcrest Oaks and Preston Trail Atrium benefit tremendously from increased activity and development in their immediate vicinities. Both properties offer unmatched convenience to an abundance of amenities and coveted residential neighborhoods.

With a favorable balance of in-place cash flow, significant upside, and increasing upward pressure in the immediate area, the North Dallas Infill Office Portfolio is a highly-sought opportunity to acquire two high-quality office assets at a significant discount-to-replacement cost.

Offers encompassing individual or both Properties will be considered.

EXECUTIVE SUMMARY

EXECUT IVE SUMMARY

PROJECT NAME North Dallas Infill Office Portfolio

SUBMARKET North Dallas

LAND AREA 14.43 Acres

PORTFOLIO SIZE 308,566 SF

TOTAL AVAILABLE SF 36,044 SF

OCCUPANCY (EST. 4/17) 88.3%

YEAR BUILT/RENOVATED 1983/2014-2016

PORTFOLIO PROFILE

COLLIERS INTERNATIONAL P. 3NORTH DALLAS INFILL OFFICE PORTFOLIO

LOCAT ION MAP

Preston Trail AtriumDallas, Texas

AREA AMENITIES1 Love Field Airport

2 Preston Forest Village: Whole Foods, Tom Thumb

3 Brookhaven Country Club4 Addison Town Center: Target, Kroger5 The Galleria Retail & Office

6 Midtown Mixed Use Development (Proposed)

7 Northwood Country Club8 Texas Instruments Campus9 Prestonwood Country Club10 Bent-Tree Country Club11 Preston Trail Golf Club

12 Pavilion North Shopping Center: Target, Tom Thumb

13 Canyon Creek Country Club

Infill Triangle

Hillcrest OaksDallas, TexasTRAFFIC COUNTS

T1 LBJ @ Hillcrest: 301,057 VPD T2 LBJ @ Preston: 223,107 VPD T3 DNT @ LBJ: 133,149 VPDT4 N Central Expy @ LBJ: 373,126 VPD T5 Preston @ Frankford: 52,900 VPDT6 Preston @ McCallum: 52,555 VPD

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T2T3 T4

T5

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ASSET PROFILE: HILLCREST OAKSPROJECT NAME Hillcrest Oaks

ADDRESS 6600 & 6606 LBJ Freeway, Dallas, TX 75240

SUBMARKET East LBJ Freeway

LAND AREA 7.23 Acres

BUILDING SIZE 183,980 SF

TYPICAL FLOOR SIZE 43,000/47,380 SF



YEAR BUILT/RENOVATED 1983/2016

CLASS B+

STORIES 2

PARKING RATIO 3.5/1,000 (subterranean/surface)

Positioned near LBJ Freeway (I-635) and Hillcrest Road, Hillcrest Oaks offers qualified investors a 90.0% occupied, stabilized asset with in-place cash flow, steady near term expirations, and in-place rents 20% below market. Comprising 183,980 square feet in two stories, Hillcrest Oaks has been recently renovated with modern upgrades, including a new café and fitness center, along with the existing parking garage. Hillcrest Oaks benefits from an overall 3.5:1,000 parking ratio, consisting of a two-level subterranean parking garage, and an adjoining surface parking area. Hillcrest Oaks offers a low cost alternative to the nearby Dallas North Tollway, Preston Center, and Central Expressway office locations.

Hillcrest Oaks benefits from its Infill Triangle location as the area has experienced historic levels of rent and occupancy increases along with the completion of LBJ TEXpress freeway project. The subject property benefits from a strong nearby talented labor pool, positive residential demographics of Preston Hollow, and its close proximity to The Galleria and North Park Mall.

PREMIER LBJ/HILLCREST LOCATION

Bounded by Dallas North Tollway to the west, LBJ Freeway to the north and Central Expressway to the east, the Infill Triangle is one of the most prominent and sought-after markets in the southern United States. Hillcrest Oaks is positioned inside the Infill Triangle, and as a result, benefits directly from its historically top-performing stature within the Dallas metro area as well as numerous retail amenities. The office building has, and will continue capturing immediate overflow from the neighboring areas, while hosting an array of adjacent, amenity-rich developments.

INVESTMENT H IGHL IGHTS H ILLCREST OAKS



NORTH

LBJ TEXPRESS

HILL

CRES

T ROA

D

DALLAS CBD

NORTH PARK CENTER

HILLCREST OAKS

UPTOWN

PRESTON HOLLOW EXECUTIVE HOUSING

MEDIAN HOME PRICES: $767,055

CENTRAL EXPRESSWAY

CLASS A 3 YR ADJ CLASS B 3 YR ADJ

GROSS ASKING RENTS $26.74 21.9% $22.31 30.8%

PRESTON CENTER



LBJ FREEWAY



PARK CENTRAL AMENITIES

PRESTON/FOREST AMENITIES

BURGER



NORTH

LBJ TEXPRESS

HILLCREST OAKS

DALLAS NORTH TOLLWAY

MIDTOWN $4B MIXED-USE DEVELOPMENT

PRESTON RD

NORTHWOOD COUNTRY CLUB

PRESTON HOLLOW EXECUTIVE HOUSING

MEDIAN HOME PRICES: $767,055

LBJ FREEWAY



TOLLWAY



PRESTON LBJ SHOPPING CENTER

Over 200 retailers

THE GALLERIA


INVESTMENT H IGHL IGHTS PRESTON TRA IL ATR IUM

ASSET PROFILE: PRESTON TRAIL ATRIUMPROJECT NAME Preston Trail Atrium

ADDRESS 17330 Preston Road, Dallas, TX 75252

SUBMARKET Quorum/Bent Tree

LAND AREA 7.2 Acres

BUILDING SIZE 124,586 SF

TYPICAL FLOOR SIZE 59,882 SF



YEAR BUILT/RENOVATED 1983/2008/2014

CLASS B+

STORIES 2

PARKING RATIO 4.2/1,000 (surface/covered)

Positioned on Preston Road in the heart of North Dallas, near Dallas North Tollway and President George Bush Turnpike, Preston Trail Atrium offers qualified investors stable in-place cash flow with steady near-term expirations and in-place rents 20% below market. Comprising 124,586 square feet, two stories and a 4.20/1,000 parking ratio, Preston Trail Atrium is located in the established and highly desirable Quorum/Bent Tree submarket. The Property has experienced recent renovations with modern upgrades and new building amenities including a modern café, conference center and lobby with collaborative seating and Wi-Fi service, while providing a cost effective alternative to nearby Class “A” Dominion Plaza. The vacancies are highly configurable, and an abundance of high level amenities are offered within walking distance of the building.




NORTH

PRESTON RD

PRESTON TRAIL ATRIUM

McCALLUM BLVD

PRESIDENT GEORGE BUSH TURNPIKE (190)DALLAS NORTH TOLLWAY

PRESTON TRAIL GOLF COURSE

NORTH DALLASEXECUTIVE HOUSING

MEDIAN HOME PRICES: $348,284TOLLWAY



PRESTON ROADCLASS A 3 YR ADJ CLASS B 3 YR ADJ


Over 125 retailers

DOMINION PLAZA85% OCC | $24.00 +E

PRESTON VILLAS APARTMENTS

WINDSOR PLACE TOWNHOMES



NORTH

PRESTON RD

PRESTON RD

PRESTON TRAIL GOLF COURSE

TOLLWAY




DALLAS NORTH TOLLWAY


WINDSOR PLACE TOWNHOMES



HERITAGE CREEKSIDE$900M MIXED-USE

DEVELOPMENT

STATE FARM HDQ | CITYLINE$1.5B MIXED-USE DEVELOPMENT

PALISADES$700M MIXED-USE

DEVELOPMENTNORTH

PRESTON RDMcCALLUM BLVD

FRANKFORD RDPRESIDENT GEORGE BUSH TURNPIKE (190) CAMPBELL RD


EXECUTIVE HOUSINGMEDIAN HOME PRICES: $325,000

3 YR ADJ 18%

US 75 CORRIDOR - RICHARDSON





Colliers International 1717 McKinney Avenue, Suite 900Dallas, TX 75202www.colliers.com

OFFERING FORMATNO ASKING PRICE HAS BEEN ESTABLISHED FOR THE OFFERING

OFFERS ENCOMPASSING INDIVIDUAL OR BOTH PROPERTIES WILL BE CONSIDERED

INVESTMENT CONTACTSCREIGHTON [email protected]

CHRIS [email protected]

TYLER [email protected]

JOHANNA [email protected]

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