CBD HIGHLAND PARK / UNIVERSITY PARK UPTOWN
HARRY HINES BOULEVARD
35E
35E REGAL ROW
KING JAMES DRIVE 4,750 77.29 ROUND TABLE DRIVE FOR SALE: $ ,000 ($ /SF) | 8.70% YEAR 1 CAP RATE
1499 REGAL ROW
Single-story Office & Retail 4.00 Acres of Land
Four Contiguous Buildings Frontage on Regal Row
61,450 SF 90.7% Occupied Investment Overview
Stream Realty Partners, L.P. is pleased to present to qualified investors the opportunity to acquire a 100% fee simple interest in 1499 Regal Row in Dallas, Texas, a four-building, 61,450 square foot multi-tenant office project with unique presence facing Regal Row in the South Stemmons submarket. The 90.7% leased, single-story complex offers a mix of traditional office space with ample parking combined with a retail presence for eight premium suites totaling over 11,000 square feet that face Regal Row, just two- parcels removed from Interstate 35E.
Property Profile:
ADDRESS: 1499 Regal Row, Dallas, Texas 75247 Investment Overview LAND: 4.00 Acres PROJECT FLEXIBILITY – OFFICE AND RETAIL The rectangular shaped, four-building garden-style complex is centrally positioned on a 4.00 acre parcel in the infill South PROJECT SIZE: 61,450 SF Stemmons office submarket, allowing ample and convenient parking to all suites, which range in size from 460 square feet up to 20,650 square feet. A majority of the suites are less than 3,000 square feet, providing product and rent diversity across OCCUPANCY: 90.7% a managable rent roll. Eight suites benefit from frontage on Regal Row, attracting office tenants that provide retail related services, including a restaurant/café, tax preparation, education and staffing. BUILDINGS: Four (4)
INFILL LOCATION DISCOUNT TO REPLACEMENT COST TENANTS: Sixteen (16)* 1499 Regal Row is located in the land constrained and Although there are speculative industrial and office projects land locked South Stemmons submarket, with limited under construction and recently completed in the Dallas/Fort VACANCIES: Three (3) remaining land supplies. The infill nature of the area Worth area, speculative office and retail product is rare in South affords future ownership a competitive advantage as new Stemmons due to the high cost to develop and rising land costs ROOF AGE: Replaced in 2014 development in these areas will continue to be scarce. on limited sites. 1499 Regal Row offers investors an opportunity Warranty until 2024 The location offers close proximity to Dallas Love Field to purchase at a significant discount to replacement cost, Airport (4 miles) and DFW International Airport (15 miles), estimated to be greater than $150 per square foot. as well as the Dallas Design District and Harry Hines Medical District. LIMITED QUALITY DIRECT COMPETITION The supply set for single-story, multi-tenant office product in RECENT BUILDING IMPROVEMENTS the Stemmons Submarket is 280,000 square feet, with many of Current ownership has made several aesthetic and these buildings having minimal to no exposure to heavy traffic mechanical improvements to the property during their counts – 1499 Regal Row experiences an estimated 20,000 cars ownership, including HVAC unit replacements, common daily. Additionally, 1499 Regal Row provides a unique balance area upgrades including new flooring, lights, and restroom of easy access with surface parking, direct access to Regal Row * The seller is acting as a lessee on a 20,650 square-foot suite finishes, suite finish-out in more than seven suites and most and Interstate 35 and the amenity of a new food service operator currently operating as a co-working location featuring recently, painting the exterior of the building in 2018. that is incomparably superior to a tradition office complex café. hybrid-office and production studio. STREAM / 2 Site Plan
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REGAL ROW
STREAM / 3 Building Photos
Frontage on Regal Row Suite 314 - Currently Under Construction
Suite 314 Typical Vacancy Building 5
Building 5 Building 5 Building 5
STREAM / 4 TERMS & CONDITIONS:
OFFERING:
Seller is seeking bids for its fee
simple interest in the 1499 Regal Row.
TERMS:
All cash on an as-is, where-is basis.
SUBMIT OFFER TO:
Jamie Jennings, James Mantzuranis Confidentiality Statement & Disclaimer Stream Realty Partners, L.P.
The information contained in this package is furnished solely for the purpose of review by a prospective purchaser of 1499 Regal Row in Dallas, Texas (the “Property”) and is not to be used for any other purpose or made available to any 2001 Ross Avenue other person without the express written consent of Stream Realty Partners, L.P., Property Owner or any of their respective Suite 400 affiliates (“Stream”). The information contained in this package is from sources deemed reliable, but is not guaranteed by Stream or Owner in any way and is subject to change in price, corrections, errors and omissions, prior sale, or withdrawal Dallas, Texas 75201 without notice.
FACSIMILE: Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather a general outline of the pertinent provisions contained herein. Prospective purchasers should rely upon their own financial projections and 214.210.1452 or 214.210.1415 conclusions without reliance upon the material contained herein and conduct their own independent due diligence, [email protected] including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material used in the construction or maintenance of the Property or located at the site. [email protected]
No copies of this package may be made in whole or in part without the prior written consent of Stream or the Property Owner. This package is the property of Stream and may be used only by parties approved by Stream or the Property COMPANY INFORMATION: Owner. The Property is privately offered and, by accepting this package, the party in possession hereof agrees that the Please provide a complete package and its contents are of a confidential nature and will be held and treated in the strictest confidence. acquisition history/resume.
PROPERTY TOURS: INVESTMENT SALES: Jamie Jennings James Mantzuranis Andrew Rabinovich Please contact the Investment Sales team Managing Director Vice President Senior Financial Analyst to schedule a property tour. 214.267.0452 214.267.0494 214.560.5111 [email protected] [email protected] [email protected] STREAM / 5