Maple Avenue Development Site Maple Avenue & Lucas Drive, Dallas, Texas 75219
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MAPLE AVENUE DEVELOPMENT SITE MAPLE AVENUE & LUCAS DRIVE, DALLAS, TEXAS 75219 DALLAS CBD UPTOWN VICTORY PARK OAK LAWN DALLAS NORTH TOLLWAY ± 23,500 VPD WYCLIFF AVE INTERSTATE 35 SITE LUCAS DR EXCLUSIVELY OFFERED BY SLJ Company, LLC TY UNDERWOOD 4311 West Lovers Lane, Suite 200 SLJ Dallas, Texas 75209 214.520.8818 x 4 www.sljcompany.com [email protected] Disclaimer: The material contained in this memorandum is confidential, furnished solely for the purpose of considering an investment in the properties described herein, and is not to be used for any other purpose, or made available to any other person without the express written consent of SLJ Company, LLC. The material is based, in part, upon information obtained from third party sources, which SLJ Company, LLC deems to be reliable. However, no warranty or representation is made by SLJ Company, LLC or its affiliates, agents, or representatives as to the accuracy or completeness of the information contained herein. Prospective investors should make their own investigations, projections, and conclusions regarding this investment. TABLE OF CONTENTS SITE EXECUTIVE SUMMARY PROPERTY HIGHLIGHTS PROPERTY PROFILE LOCATION LIST ZONING INFORMATION AREA OVERVIEW DEMOGRAPHICS EXECUTIVE SUMMARY SLJ Company, LLC (“SLJ”) has been exclusively retained to offer Maple Avenue Development Site, an approximately 2 acre ground lease opportunity, located at the southwest corner of Maple Avenue and Lucas Drive in Dallas, Texas (the “Property”). The Property is a true “in-fill” location bounded by the Medical District, the Uptown area of Dallas, the Turtle Creek and Oak Lawn neighborhoods, and the rapidly redeveloping area of the Design District and Market Center. The Property is also in close proximity to the Park Cities, Downtown Dallas and Love Field Airport. Access is provided by Interstate 35E and Harry Hines Boulevard to the west, the Dallas North Tollway directly to the east and major arterial roads including Maple Avenue and Wycliff Avenue. Disclaimer: The material contained in this memorandum is confidential, furnished solely for the purpose of considering an investment in the properties described herein, and is not to be used for any other purpose, or made available to any other person without the express written consent of SLJ Company, LLC. The material is based, in part, upon information obtained from third party sources, which SLJ Company, LLC deems to be reliable. However, no warranty or representation is made by SLJ Company, LLC or its affiliates, agents, or representatives as to the accuracy or completeness of the information contained herein. Prospective investors should make their own investigations, projections, and conclusions regarding this investment. UT SOUTHWESTERN PARKLAND MEDICAL CENTER HOSPITAL CHILDREN’S MEDICAL CENTER UT SOUTHWESTERN MEDICAL CENTER SITE MAPLE AVE & LUCAS DR | 3 PROPERTY HIGHLIGHTS DALLAS LOVE FIELD AIRPORT EXCELLENT LOCATION The Property is ideally situated along Maple Ave near Wycliff Ave, which both serve as primary arteries for the neighborhood and surrounding areas. The intersection of Maple Ave and Wycliff Ave sees over 40,000 vehicles per day with approximately 18,000 SITE vehicles passing directly in front of the Property on Maple Ave. The Property is a true infill location that is well-positioned just minutes from Dallas’ Medical District, Downtown Dallas, Love Field Airport and the Park Cities. HIGH BARRIERS TO ENTRY Barriers to entry are high as there are few available sites within close proximity of the Property. PRIME DEVELOPMENT SITE The Property is approximately 2 acres with ample frontage on Maple Ave, Lucas Dr and Lake Ave. The Property’s location at the signalized intersection of Maple Ave and Lucas Dr provides excellent access and exposure to vehicular traffic. By right, the entitlements at the Property allow for a variety of retail and office uses. REDEVELOPING NEIGHBORHOOD The subject neighborhood is experiencing significant gentrification and investment, with many aging single-family residences and apartment buildings being redeveloped with modern homes, townhomes, duplexes and apartments. STRONG DEMOGRAPHICS The Property is located within rapidly improving demographics and is projected to continue to experience increases in population and households incomes over the next five years. MAPLE AVE & LUCAS DR | 4 CITYPLACE UPTOWN OAK LAWN DALLAS NORTH TOLLWAY SITE PROPERTY PROFILE LOCATION LAND AREA The Property is located at the southwest corner of Maple Ave and Total: ±2.01 Acres (87,600 SF) Lucas Dr. near Dallas’ Medical District. *No minerals are included in the proposed transaction LOT DIMENSIONS TRAFFIC COUNTS Frontage on Maple Ave: Approximately 284’ Maple Ave: 17,996 VPD (2018) Frontage on Lucas Dr & Lake Ave: Approximately 300’ Wycliff Ave: 23,516 VPD (2018) MAPLE AVE & LUCAS DR | 5 LOCATION LIST #1 – 4501 MAPLE AVE #2 – 4515 MAPLE AVE #3 – 4519 MAPLE AVE Building Size: 4,608 SF Building Size: 17,074 SF Building Size: N/A Land Size: 31,350 SF Land Size: 30,000 SF Land Size: 11,250 SF Zoning: PD 193 GR &P Zoning: PD 193 GR & MF-2 Zoning: PD 193 GR #4 – 4516 LAKE AVE #5 – 4520 LAKE AVE Building Size: 1,358 SF Building Size: 1,349 SF Land Size: 7,500 SF Land Size: 7,500 SF Zoning: PD 193 MF-2 Zoning: PD 193 MF-2 #1 #2 #4 #5 #3 MAPLE AVE & LUCAS DR | 6 ZONING INFORMATION LAND AREA BY SUBDISTRICT PD 193 (GR): 41,925 SF PD 193 (MF-2): 30,000 SF PD 193 (P): 15,675 SF PRIMARY USES – GR SUBDISTRICT Residential: Single-Family, Duplex, Multiple- Family, Hotel or Motel* Institutional/Community Service: College/University/Seminary, Child- care, Public or Private School, Business School, Art Gallery or Museum Medical: Nursing Home, Medical Clinic, Medical or Scientific Lab Recreation & Entertainment: Inside Commercial Amusement, Theatre PD 193 Bar & Restaurant: Bar, Lounge or Tavern, Restaurant without Drive Through Service, (GR) Private Club PD 193 Professional/Personal Service: Office, Bank*, Barber or Beauty Shop, Health Studio, Laundromat or (MF- 2) Dry Cleaning, Tailor, Art or Photo Studios, Veterinarian’s Office, Animal Clinic Retail: Retail Food Store, Bakery, Clothing Store, Drug Store, Liquor Store, Pet Shop, Retail Stores other than listed PD 193 Motor Vehicle Related: Auto Parts or Repair (inside only), (P) Car Wash, Service Station, Commercial Parking Lot or Garage PRIMARY USES – MF- 2 SUBDISTRICT Residential: Single-Family, Duplex, Multiple-Family Institutional/Community Service: College/University/Seminary, Art Gallery or Museum PRIMARY USES – P SUBDISTRICT Motor Vehicle Related: Surface Parking *See PD 193 for specific zoning restrictions and requirements MAPLE AVE & LUCAS DR | 7 HIGHLAND PARK Population: 9,208 LENOX Median Income: $200,208 MAPLEWOOD Median Home Value: $1,413,200 287 Units Est. Delivery 2020 24,000 Employees MEDICAL DISTRICT THE LUCAS 386 Units 16,000 Employees OAK LAWN SITE 4,100 Employees TURTLE CRESCENT ESTATES CREEK Townhome OLD M-LINE Development PARKLAND TOWER 262 Units CARLISLE & VINE UPTOWN 159 Units AREA OVERVIEW The eclectic, urban neighborhood that includes Dallas Love Field airport and the Medical District continues to experience growth and vibrancy. Multifamily residential in the surrounding neighborhoods continues to expand, with significant growth along Maple Avenue in the past few years. Between the most recently constructed complexes and the developments currently being planned, over 6,000 residential units have or will be added to the area since 2013. The completion of the DART Green & Orange Lines adds a convenient access to the metro area as well as DFW International Airport. The 37-acre West Love development at Mockingbird and Maple is currently under construction, over 700 multifamily units have been completed as well as the addition of Aloft Hotel. Also in the area, Southwest Airlines recently completed a $250 million corporate campus expansion, and broke ground on a 141,000 square foot pilot training center on October 2019. The Medical District continues to flourish and expand. The brand new $1.3 billion dollar Parkland Memorial Hospital opened in August of 2015. The hospital averages more than 1 million patient visits annually and the 2.8 million square-foot facility is equipped with 862 single-patient rooms, a Level I Trauma Center, the second largest civilian burn center in the U.S. and a Level III Neonatal Intensive Care Unit. UT Southwestern’s new $800 million state-of-the-art medical facility – the William P. Clements Jr. University Hospital – is rapidly changing the West Campus skyline. The 12-story, 1.3 million square-foot hospital opened in late 2014.A 500,000-square-foot biotechnology park on 13 acres, called BioCenter at Southwestern Medical District, is attracting innovative biotech companies to the area, as well as increasing research opportunities. In June of 2019 UT Southwestern broke ground on two new 9-story buildings – approximately 300,000 square feet each – dedicated to brain research and cancer patient care which are expected to open in the fall of 2022. MAPLE AVE & LUCAS DR | 8 2019 DEMOGRAPHICS CONSUMER # OF # OF SPENDING BUSINESSES EMPLOYEES ($000S) 1 MILE 4,341 48,237 330,861 COLLEGE POPULATION EMPLOYED EDUCATED <30 MINUTE POPULATION POPULATION COMMUTE 3 MILE 67.6% 70.2% 73.6% POPULATION HOUSEHOLDS MEDIAN AGE 386K 164K 34.7 AVERAGE MEDIAN PROJECTED HOUSEHOLD HOME POP. GROWTH 5 MILE INCOME VALUE 2019- 2024 $101K $388K 6.54% MAPLE AVE & LUCAS DR | 9 DALLAS CBD VICTORY PARK DESIGN TRINITY DISTRICT GROVES DALLAS NORTH INTERSTATE 35 TOLLWAY SITE EXCLUSIVELY OFFERED BY SLJ Company, LLC TY UNDERWOOD 4311 West Lovers Lane, Suite 200 SLJ Dallas, Texas 75209 214.520.8818 x 4 www.sljcompany.com [email protected] Disclaimer: The material contained in this memorandum is confidential, furnished solely for the purpose of considering an investment in the properties described herein, and is not to be used for any other purpose, or made available to any other person without the express written consent of SLJ Company, LLC.