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Sales Price: $2,175,000 ($51.27/Sf)

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Sales Price: $2,175,000 ($51.27/Sf) OFFERING SUMMARY PRESTON UNIVERSITY HOLLOW PARK HIGHLAND PARK UPTOWN / TURTLE CREEK DALLAS CBD SOUTHWESTERN MEDICAL DISTRICT DESIGN DISTRICT HARRY HINES BOULEVARD 35E IRVING BOULEVARD W MOCKINGBIRD LANE 35E METROMEDIA PLACE AMBASSADOR ROW JOHN W. CARPENTER FREEWAY (HWY 183) DIVIDEND DRIVE SOVEREIGN ROW SALES PRICE: $2,175,000 ($51.27/SF) 42,420 Square Feet | 100% Leased Value Add Industrial | Premier Infill Location | Multi-Tenant Design DALLAS, TEXAS www.streamrealty.com EXECUTIVE SUMMARY OFFERING SUMMARY Stream Realty Partners is pleased to present for sale 8400 Ambassador Row (the “Property”), an infill, industrial warehouse comprised of 42,420 square feet in the South Stemmons Industrial submarket. The Property is currently 100% leased to two tenants with near term lease expirations at below market rental rates.The sale of the property is subject to a 99-year ground lease, with 85 years remaining, that has fixed annual payments. This offering provides a rare value-add, industrial opportunity within one of the strongest submarkets in the Dallas/Fort Worth metroplex. West Brookhollow, within the greater South Stemmons Industrial submarket, boasts ultra-low industrial vacancy rates due to lack of available land and its proximity to the The booming industrial market fundamentals, coupled with an infill, highly functional asset, most dynamic urban areas in North Texas. The West allows for immediate value creation through the mark to market of in-place rates. Brookhollow submarket achieved a shallow bay vacancy rate of 2.8% for 2Q 2019. PROPERTY DESCRIPTION INVESTMENT HIGHLIGHTS 8400 Ambassador Row ADDRESS: LAST MILE INFILL LOCATION DISCOUNT TO REPLACEMENT COST Dallas, Texas 75247 • Demand for infill, light industrial space with • The building is anticipated to trade at a YEAR BUILT / RENOVATED: 1954 / 1961 easy access to dense, urban population significant discount to replacement cost in NET RENTABLE AREA: 42,420 square feet centers has become of critical importance an irreplaceable infill location LAND AREA: 2.746 acres for E-commerce and retail supply chain configurations EXCELLENT RENT GROWTH OPPORTUNITY OCCUPANCY: 100% • The building size of 42,420 square feet is in TENANTS: 2 FUNCTIONAL, MULTI-TENANT DESIGN a tranche range not heavily served by new EST. OFFICE FINISH: 13% • Highly functional designs, with specifications construction WAREHOUSE CLEAR HEIGHT: 14’ - 16’ including ideal building depths, low office • Owners of similar product are enjoying TOTAL LOADING DOORS: 8 finishes, a high density of dock doors and significant rental pricing power DOCK HIGH DOORS: 5 concrete tilt wall construction • Investors stand to benefit from future renewals of existing tenants, with in-place GRADE LEVEL & RAMPED DOORS: 3 rents approximately 35% below market as well as upside potential from the residual sale 2 EXECUTIVE SUMMARY (CONT’D) W MOCKINGBIRD LANE DIVIDEND DRIVE JOHN W. CARPENTER FREEWAY (HWY 183) 35E EMPRESS ROW VICEROY DRIVE PROFIT DRIVE 2.8% 35% 1.8 WALT >60% CURRENT VACANCY RATE IN-PLACE RENTS NEAR TERM EXPIRATIONS of South Stemmons for Shallow Bay Industrial Are Approximately Affords Immediate “Mark Industrial Market in West Brookhollow 35% Below Market to Market” Approach is User Owned 35E 3 77 5 78 30 30 PROSPER DECATUR DENTON 30 LOCATION OVERVIEW McKINNEY EMPRESS ROW 183 BROOKVIEW DRIVE 30 LITTLE 2 35W 3 35E ELM FRISCO EMPIRE CENTRAL DRIVE PROFIT DRIVE 35E 121 78 AMBASSADOR ROW N STEMMONS FWY JOHN W CARPENTER FWY 121 MOCKINGBIRD 114 DIVIDEND DRIVE SOVERIGN ROW PLANO 183 FLOWER METROMEDIA PLACE MOUND 35E 5 114 ddison irport RICHARDSON ADDISON 190 205 CARROLLTON KELLER GRAPEVINE ROCKWALL 35W 635 2 3 635 GARLAND 121 114 30 ntl irport 5 SAGINAW UNIVERSITY 205 199 allas PARK 13 ove ield irport HIGHLAND ort orth PARK echam ntl 161 IRVING irport 35E 635 20 30 360 DALLAS 30 30 FORT MESUITE 0 ARLINGTON 15 30 WORTH GRAND 13 20 PRAIRIE 20 20 35E 45 BENBROOK 20 2 35W 20 3 15 LANCASTER 4 2 6 35E 45 BURLESON 34 MIDLOTHIAN 11 14 35W LOCATION OVERVIEW (CONT’D) PRESTON UNIVERSITY HOLLOW PARK HIGHLAND PARK UPTOWN / TURTLE CREEK DALLAS CBD SOUTHWESTERN MEDICAL DISTRICT DESIGN DISTRICT HARRY HINES BOULEVARD 35E IRVING BOULEVARD John W. Carpenter Freeway W MOCKINGBIRD LANE 35E (Highway 183) is less than 500 feet to the northeast of the subject property, primarily connected by Dividend Drive, providing direct access METROMEDIA PLACE to a freeway access ramp. Mockingbird Lane, a major east/ west thoroughfare, in Dallas, is less than 1-mile to the southeast AMBASSADOR ROW and provides immediate access to North Stemmons Freeway JOHN W. CARPENTER FREEWAY (HWY 183) (Interstate 35E). DIVIDEND DRIVE SOVEREIGN ROW PROXIMITY TO DALLAS’ LARGEST DEMAND DRIVERS The property is strategically located minutes away from Dallas’ largest demand drivers, employment centers, and population hubs through its proximity to Interstate 35 (I-35) and Highway 183. DALLAS LOVE FIELD AIRPORT D/FW INTERNATIONAL AIRPORT DESIGN DISTRICT SOUTHWESTERN MEDICAL Generates > $2 Billion Annually to Highest-Capacity Commercial 590-Acre, Nationally Acclaimed DISTRICT Local Economy Airport in the World Design Destination > 2.9 Million Patient Visits Per Year UPTOWN / TURTLE CREEK DALLAS CBD PARK CITIES Dallas’ Top Hospitality, Largest Employment Center Texas’ Most Affluent Office & Retail Submarket in North Texas Neighborhoods 5 LOCATION OVERVIEW (CONT’D) DEMAND DRIVERS DALLAS LOVE FIELD AIRPORT THE DESIGN DISTRICT 8400 Ambassador Row is located approximately 3.50-miles southwest of Dallas Originally built as a warehouse district by well-known Love Field Airport, a convenient general-use airport that serves as the headquarters real estate developer, Trammell Crow, the Dallas Design for low-cost carrier Southwest Airlines. The airport, which served more than 16.2 District has evolved into a center for interior design million passengers in 2018, underwent a $519 million modernization renovation, showrooms and art galleries, along with fine dining including a centralized terminal with 20 gates, a new lobby, expanded baggage establishments and most recently, luxury apartments. claim area, and an expanded passenger garage. Through its evolution into an eclectic and upscale neighborhood, the Design District has remained a Dallas Love Field by The Numbers central hub for the design industry in Dallas, with • 44,464 – Daily Passengers • 200 – Daily Non-Stop Flights many wholesale design trade businesses continuing • 16,229,151 – Total Passengers • 231,110 – Total Operations (2018) to flourish, and art galleries continue to migrate to the • 1st – Largest Medium-Hub Airport in Nation district along Dragon Street. After renovations in 2014, Love Field immediately saw drastic passenger growth and today is the 31st-busiest airport Virgin Hotel in the United States and busiest medium-hub airport despite its federally mandated cap of 20 gates. Love Field is Construction of the served by Southwest Airlines (Headquarters), Delta Airlines, and Alaska Air, in addition to numerous private aviation 16-story, 268-room companies. The impact of the airport has greatly increased traffic to the surrounding area, including 8400 Ambassador Virgin Hotel Dallas Row, which has and will continue to positively impact demand for office and industrial space as well as land values. at the corner of Turtle Creek and Hi Line Drive began in 2016, and the opening is slated for 2019. The hotel will AFFLUENT NEIGHBORHOODS feature luxury suites, Adjacent to the most affluent residential neighborhoods in Dallas, the South restaurants and bar Stemmons Industrial Submarket offers close proximity and convenience for many areas, as well as a high net worth individuals and corporate decision makers. The neighborhoods of rooftop terrace with Highland Park, University Park, Bluffview and Preston Hollow are within 5 to 7 miles a pool, spa and gym. of 8400 Ambassador Row. The median household income for communities such as Highland Park and University Park range from $200,208 to $211,741, providing a Dallas Maverick’s Practice Facility true “last-mile” location for retailers. Mark Cuban, owner of the NBA’s Dallas Mavericks, purchased a two-building, 10-acre site along N. Park Cities by The Numbers Stemmons Freeway with plans to build a brand new $70 million practice facility. 2018 2023 Population 35,915 38,397 Long term plans for the area include further Households 11,843 12,566 development and expansion to the west, including a new 18-story Virgin Hotel and the new Dallas Maverick’s Median Income $200,208 $211,741 practice facility. The Design District is one of the most Average Income $253,934 $265,106 vibrant “live-work-play” environments in all of Dallas/ Per Capita Income $85,718 $88,677 Fort Worth. 6 SITE PLAN BUILDING SPECIFICS Loading Docks: Dock-High (5) II I Loading Ramps: 2 Grade Level Doors: 1 Clear Height: 14' - 16’ Fire Sprinklers: No Foundation: Reinforced-Concrete Slab Building Structure: Masonry & Steel Frame Warehouse floor areas have an Floor Coverings: unpainted smooth concrete finish AMAA Water/Sewer: City of Dallas Deregulated - Submetered to each Electricity: Tenant suite Natural Gas: Atmos Gas Warehouse Lighting: Fluorescent Lighting Zoning: IR-Industrial Research 7 DFW INDUSTRIAL OVERVIEW NINE BIGGEST DFW CORPORATE RELO’S OVERVIEW +/- 2,000,000 SF +/- 1,000,000 SF The Dallas / Fort Worth Industrial market is the 5th largest in the United States, containing approximately 838 Richardson | 8,000 Workers Plano | 6,000 Workers million square feet of buildings as of the second quarter of 2019. As a top five industrial and distribution market, D/FW continues to be one of the most attractive in-fill markets for investments. The market wide vacancy rate was 6.3% at the end of the 2Q 2019. The vacancy rate has improved steadily over the prior three years from a peak in excess of 12% and continues to show strong signs of improvement with expansions, +/- 2,000,000 SF +/- 1,000,000 SF solid retention, and new move-ins to the market. The 15-year historical vacancy rate in D/FW is 9.5% which statistically Plano | 4,000 Workers Plano | 4,000 Workers indicates a balanced supply and demand set.
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