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Buena Vista St Buena 4205 vista DALLAS // TEXAS A vibrant infill office/retail development site located along the Katy Trail Buena 4205vista BuenaBuena Vista St. N. Fitzhugh Ave. offering summary HFF has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in a prime office/retail development site known as the Buena Vista Katy Trail Development Site (the “Property”), located in the Katy Trail/Uptown area of Dallas and adjacent to the prestigious Highland Park neighborhood. The Property’s irreplace- able location is at the heart of the liveliest district in North Texas, home to the most popular nightlife, dining, shopping, and entertainment the city has to offer while having direct access and unobstructed views of the Katy Trail. In addition, Buena Vista Katy Trail Development Site represents one of the city’s last opportunities to develop a truly iconic asset in a coveted location while being situated within the most sought after submarket in the metro. INVESTMENT HIGHLIGHTS COVETED KATY TRAIL DEVELOPMENT SITES – Buena Vista Katy Trail Development Site is positioned along Fitzhugh Avenue in the highly desirable Katy Trail/Uptown submarket where land sites for development are at a premium due to their scarcity. The Property is bordered by strong demographics, a growing population, and the Katy Trail. IRREPLACEABLE, EASILY ACCESSIBLE LOCATION – Situated on the border of the Uptown and Highland Park neighborhoods, Buena Vista Katy Trail Development Site is afforded excellent access and visibility as the site enjoys direct entrance to the Katy Trail that connects Victory Park and SMU and is one of the finest amenities in the city of Dallas. The highly sought after location between Knox-Henderson, the liveliest and most diverse entertainment districts in Dallas with numerous bars, restaurants and shops, and booming Uptown make the Property ideally concentrated to the epicenter of Dallas live- work-play lifestyle. UNIQUE, WALKABLE URBAN SETTING – With its premier Katy Trail/Uptown location Buena Vista Katy Trail Development Site provides walkability to the trendiest district in Dallas, Uptown, filled with more than 125 restaurants and bars, the city’s most extravagant hotels, entertainment, fine arts, and several of Dallas’ finest office buildings. In the month of January 2016, restaurant concept Happiest Hour, which opened in Fall of 2015, generated the second highest alcohol sales in the entire state of Texas at over $765,000. The Katy Trail Ice House ranked in the top 25 in January 2016 with alcohol sales topping $418,000. Also within a 3-mile radius are 237 multifamily properties totaling 59,845 units, currently 94.1% occupied with 8,766 units currently under development. These factors help Buena Vista Katy Trail Development Site attain a “Walk Score” of 79, which beats the totals for Philadelphia, Chicago, and Washington D.C. Happiest Hour Katy Trail Katy Trail Ice House Old Parkland PROMINENT SURROUNDING ECONOMIC DRIVERS The Property sits amongst a number of surrounding drivers including: • Preston Center – has the highest office occupancy rate and highest retail rental rate in one of the best markets in Dallas/Fort Worth along the Northern border of the Property • Uptown Dallas – home to the city’s strongest office, retail, and hospitality markets along the Southern border of the Property • Downtown Dallas – home to a workforce of more than 140,000 people, just over two miles from Buena Vista Katy Trail Development Site • Crow Holdings redevelopment of Old Parkland Hospital consisting of approximately 350,000 Class “A” office space with an additional 150,000 SF under construction and rents over $50 PSF. In all, there is approximately 1.7 million square feet of office currently under construction that is expected to generate more than 11,300 jobs in the immediate area. • Dallas Love Field generates over $2 billion annually and recently completed a $520 million renovation that was finalized in October 2014 • Dallas Medical District currently has more than $2.5 billion worth of developments underway and considered to be the largest hospital construction project in the U.S. Workforce of more than 28,000 people. • The 68-acre Dallas Arts District, the largest contiguous arts district in the US, draws over 600,000 visitors annually just over two miles from the Property Knox/Henderson UNRIVALED DEMOGRAPHICS The immediate area surrounding Buena Vista Katy Trail Development Site boast some of the strongest demographics in the City as the population within a one mile radius has increased by 13.7% since 2000 and is expected to increase an additional 9.1% over the next five years. Neighboring home prices range from $300,000 to in excess of $5,000,000. Further emphasizing the strength of the surrounding demographics is that the average household income within a one mile radius of Uptown Katy Trail Development Site is approximately $113,371 with nearly 40% of the population earning more than $100,000. Furthermore, 33.8% of the population within a one mile radius is between the prime rental ages of 25-34. demographic summary 1 MILE RADIUS 3 MILE RADIUS 5 MILE RADIUS DFW MSA POPULATION 2021 Projection 29,923 197,686 375,608 8,296,858 2016 Estimate 27,637 185,104 354,442 7,728,753 2010 Census 24,674 168,466 327,442 7,020,482 Growth 2000 - 2010 1.5% 0.9% -3.5% 21.9% Growth 2010 - 2016 12.0% 9.9% 8.2% 10.1% Growth 2016 - 2021 8.3% 6.8% 6.0% 7.4% 2016 Est. Median Age 36 35 35 35 2016 Est. Average Age 39 37 36 36 HOUSEHOLDS 2021 Projection 18,507 97,373 167,900 2,989,960 2016 Estimate 16,970 90,214 156,983 2,786,280 2010 Census 14,925 80,653 142,979 2,543,030 Growth 2000 - 2010 16.8% 13.4% 3.7% 20.8% Growth 2010 - 2016 13.7% 11.9% 9.8% 9.6% Growth 2016 - 2021 9.1% 7.9% 7.0% 7.3% INCOME 2016 Est. Average Household Income $113,371 $110,696 $99,929 $83,289 2016 Est. Median Household Income $74,230 $68,215 $57,785 $60,385 HOUSING VALUE 2016 Est. Median All Owner-Occupied Housing Value $357,651 $422,395 $371,893 $169,781 Highland Park Turtle Creek Village ECONOMIC OVERVIEW The Dallas/Fort Worth (DFW) economy is one of the most diverse in the country and is the home to a number of major corporate relocations and expansions whose campuses are currently under construction, namely Toyota, Liberty PROPERTY DESCRIPTION Mutual, 7-Eleven, JPMorgan Chase, FedEx, and State Farm. Today, the local economy supports an employment LOCATION: Buena Vista St. and N. Fitzhugh Avenue base exceeding 3.5 million workers, and during the year- CITY: Dallas, TX ending December 2015, DFW ranked second in the nation in absolute and percentage job growth amongst the 20 ACREAGE: 0.471 largest employment bases. Over that time, the metro BUILDING: 4,602 SF area ranked #3 in the U.S. overall for number of new jobs created adding 98,900 new jobs representing an increase ZONED: PD-193 (GR) (P) of 2.9%. Moreover, Moody’s Economy.com forecasts that from 2014 through 2019 DFW will rank first in the nation in population growth adding 4 new residents and first in the nation in employment growth, creating 496,522 new jobs. Knox St. Henderson Ave. HIGHLAND PARK $500,000 + Buena M STREETS 4205vista $338,000 FItzhugh Ave. Turtle Creek Blvd DECATUR PROSPER McKinney Ave. DENTON Oak Lawn Ave. McKINNEY PONDER LITTLE FARMERSVILLE ELM CORINTH FRISCO ARGYLE TurtleY Creek WA OLL N T Lewisville UR YB Village RA Lake AM ALLEN THE COLONY S HIGHLAND LUCAS VILLAGE OAK LAWN JUSTIN Blackburn Ave. RHOME NEIGHBORHOOD Lavon Lake LEWISVILLE $278,000 Uptown WYLIE ENT GEORGE BU H PLANO FLOWER MOUND SID S T E UR MURPHY R NP TROPHY P IK E Fort Worth ROANOKE Alliance CLUB Grapevine Airport Lake ROYSE HASLET CARROLLTON Addison SACHSE Airport CITY GRAPEVINE COPPELL ADDISON RICHARDSON SOUTHLAKE North KELLER Lake FARMERS OFFERING FORMAT 30 BRANCH ROCKWALL AZLE OFFER DATE: To Be Determined Mountain LAS COLINAS Preston Lake GARLAND D D Hollow Highlands ROWLETT A Lake A L L L Dallas/Fort Worth L A A S S TIMING: All offers from qualified developers and N COLLEYVILLE International DALLAS N O O R R T SAGINAW WATAUGA Airport LOVE FIELD T Buena H H investors must include specific timing related to University T AIRPORT T O O Lake Ray Hubbard IRVING Park vista L NORTH L L BEDFORD L 4205 W W 30 development process. A A Y 820 RICHLAND Y White Rock Highland HEATH HILLS EULESS Park Lakewood Lake LAKE 820 Fort Worth Meacham HURST Lake Worth WORTH Airport ADDITIONAL INFORMATION HALTOM CITY Uptown 30 SUNNYVALE NAS Joint Reserve FORT DALLAS CBD BEN BEAIRD | Director | [email protected] | 214-692-4706 Base Fort Worth WORTH 30 WHITE WESTOVER 30 30 MESQUITEADAM KRAUS | Analyst | [email protected] | 469-232-1942 CBD FORNEY SETTLEMENT HILLS OAK CLIFF 820 ARLINGTON GRAND PRAIRIE For questions regarding debt structures on this property, please contact: Y. W K Lake Mountain 30 P IL RA Arlington Creek Lake 45 CULLEN ADERHOLD | Financing Guidance Director | [email protected] | 469-232-1994 820 T M L BALCH O O H H 20 S S 20 I BELT SPRINGS H DALWORTHINGTON C JUNCTION FOREST HILL GARDENS 20 BENBROOK ©2016 HFF andDUNCANVILLE HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide EDGECLIFF and is a leading provider of commercial real estate and capital marketsHUTCHINS services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, 2323 Victory Avenue, 20 VILLAGE investment sales, equity placement, advisory services, loan sales and commercial loan servicing.
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