PREMIER PLACE
DALLAS · TEXAS
OFFERING SUMMARY| PREMIER PLACE
Dallas’ Most Complete Location INSTITUTIONALLY OWNED CLASS A MIXED-USE ASSET OVER $6 MILLION IN CAPEX OVER THE LAST 5 YEARS
UNMATCHED AMENITY PACKAGE WITH TOP TIER LIFETIME FITNESS CLUB
ROBUST TENANCY WITH STAYING POWER 27% OF THE TENANCY HAS OVER 15 YEARS OF TENURE
TRANSIT-ORIENTED LIVE-WORK-PLAY ENVIRONMENT DIRECT CONNECTION TO MOCKINGBIRD STATION MIXED-USE DEVELOPMENT & DART RAIL
STABILIZED ASSET WITH TREMENDOUS UPSIDE 93% LEASED WITH IN-PLACE RENTS 40% BELOW MARKET
SUPERIOR NORTH CENTRAL EXPRESSWAY OFFICE FUNDAMENTALS TIGHTENING UPTOWN & PRESTON CENTER SUBMARKETS DRIVING SUBSTANTIAL RENTAL AND OCCUPANCY GROWTH
DALLAS - #1 CITY FOR REAL ESTATE INVESTMENT SOURCE: 2019 PWC/ULI EMERGING TRENDS FORECAST the investment opportunity
HFF, as an exclusive advisor, is pleased to present the opportunity to acquire Premier Place (the “Property”), a 457,901-square-foot, 93% leased mixed-use asset in Dallas’ most complete location at the confluence of Central Expressway and Mockingbird Lane. The location is surrounded by Texas’ most prestigious neighborhoods, with immediate connectivity to SMU, the George W. Bush Presidential Library, Mockingbird Station, DART Light Rail and the Katy Trail, offering tenants a true transit-oriented location within Dallas. With a 4.7-year weighted average lease term and 40% below market rents, the Property boasts a substantial mark-to-market opportunity, further enhanced by executing a conversion from BY+E to NNN lease structures. Premier Place presents a rare combination of diversified tenancy with staying power and a preferred corporate location within one of the nation’s most highly regarded economies, resulting in a “premier” mixed-use investment opportunity. the tenancy
NAME RSF % OF RSF EXP.
62,000 13.5% Sep-27
53,001 11.6% Sep-23
30,132 6.6% Mar-22
26,373 5.8% Mar-25
20,959 4.6% Sep-29
20,593 4.5% Aug-23
Offering Summary HFF PREMIER PLACE
the building
5910 NORTH CENTRAL EXPY. DALLAS, TEXAS 75206
457,901 RENTABLE SQUARE FEET
20 NUMBERS OF STORIES
93% OCCUPANCY
1985 / 2014 YEAR BUILT / RENOVATED
4.7 YEARS WEIGHTED AVERAGE LEASE TERM
5 the neighborhood
WITHIN A 1 MILE RADIUS OF PREMIER PLACE... DOWNTOWN DALLAS
UPTOWN $150,313 AVERAGE LAKEWOOD HOUSEHOLD INCOME HIGHLAND PARK
50% M STREETS BACHELOR’S DEGREE OR HIGHER PREMIER PLACE
1.4M SF MOCKIN BIRD LANE DART/TRAMMEL CROW CO. OF RETAIL PROPOSED +/ 760,000 SF OF COMMERCIAL AND RESIDENTIAL TWO 2 20 STORY RESIDENTIAL BUILDINGS WITH 682 MULTI UNITS AND 19,000 SF OF RETAIL MULTI-FAMILY 5,182 UNITS
75 NORTH CENTRAL E PRESSWAY HOTEL KEYS 490 290,000 VPD
88 WALKABILITY SCORE
THE CROSSING UNDER CONSTRUCTION 20 STORY TOWER WITH 330 70 BIKE SCORE MULTI FAMILY UNITS AND 90,000 OF RETAIL SMU BL D.
Offering Summary HFF PREMIER PLACE
DOWNTOWN DALLAS
UPTOWN
LAKEWOOD HIGHLAND PARK
M STREETS PREMIER PLACE Park Cities Neighborhoods
MOCKIN BIRD LANE DART/TRAMMEL CROW CO. PROPOSED +/ 760,000 SF OF COMMERCIAL AND RESIDENTIAL TWO 2 20 STORY RESIDENTIAL BUILDINGS WITH 682 MULTI UNITS AND 19,000 SF OF RETAIL
Katy Trail 75 NORTH CENTRAL E PRESSWAY
290,000 VPD
THE CROSSING UNDER CONSTRUCTION 20 STORY TOWER WITH 330 MULTI FAMILY UNITS AND 90,000 OF RETAIL SMU SMU BL D.
7 2323 Victory Avenue, Suite1200 Dallas, Texas 75219 214-265-0880 hfflp.com
investment advisors
ANDREW LEVY TODD SAVAGE CHRIS MURPHY PARKER McCORMACK Senior Managing Director Managing Director Senior Director Director [email protected] [email protected] [email protected] [email protected] 469-232-1961 469-232-1930 469-232-1941 469-232-1952
analytical support debt advisor
DOM ESPINOSA JASON JACOBS JIM CURTIN Analyst Analyst Managing Director [email protected] [email protected] [email protected] 214-692-4708 214-692-4719 469-221-7781
disclaimer
©2019 Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF. HFF has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.