1 Offering Summary S H O P S A T MACARTHUR HILLS IRVING, TEXAS2 THE VISION AND OPPORTUNITY Holliday Fenoglio Fowler, L.P. ( HFF ) is pleased to exclus...
1 ODESSA, TEXAS OFFERING SUMMARY2 INVESTMENT OVERVIEW HFF is pleased to exclusively offer Winwood Town Center (the Property or the Center ), a 365,559...
1 OFFERING SUMMARY Dallas, Texas2 INVESTMENT SUMMARY HFF, L.P. has been exclusively retained by the Owner to offer qualified investors the opportunity...
1 BIG 12 CONFERENCE HANDBOOK2 Big 12 Conference 400 East John Carpenter Freeway Irving, Texas (469) Big12Sports.com Big 12 Staff Commissioner Deputy C...
1 TRADITIONS FORT WORTH ETJ,DENTONCOUNTY, TEXAS OFFERING SUMMARY2 It is rare that a tract of land of this magnitude, with exceptional access and visib...
1 OFFERING SUMMARY 5919 W. 19TH LITTLE ROCK, AR 722042 Product Offering Tables of Contents I. Intro Letter II. Project & Area Overview III. Pictur...
1 Class A Building Built-to-Suit 120,000 SF Available PROPERTY DESCRIPTION This Class A building design can accommodate either a corporate headquarter...
1 KATHLEEN JANVIER 617 Sixteenth St West Irving, Texas Education 2013 M.F.A. Department of Metalsmithing Fiber Elective - Spring Graduate Studies in J...
1 DS 7542 %&m GIFT OF HORACE W. CARPENTER3 mm Teshoo rj- OIl ien Sm$$ Jttsrri^tion. TRANSLATED BY ERNEST LUDWIG, PEKING TIENTSIN PRESS, ^IMITEJi4 ...
1 2 executive summary Colliers International is pleased to offer for sale the Natola Portfolio a unique two-building value-add investment opportunity ...
W. J O H N C A R P E N T E R I RV I N G , T E X AS
INVESTMENT OVERVIEW HFF, L.P. has been exclusively retained by the Owner to offer qualified investors the opportunity to purchase 2250 W. John Carpenter, a 127,433 square foot, institutionally maintained Class A office building located in the Las Colinas office market of Dallas/ Ft. Worth. Currently 95% leased to Exeter Financial Group and the Defense Contract Audit Agency (DCAA–GSA), the Property offers an average remaining lease term of 7.1 years. 2250 W. John Carpenter presents investors with the opportunity to acquire a stable, cash flowing asset at a discount to replacement cost in Dallas/Ft. Worth, one of the most dynamic economies in the U.S.
PROPERTY OVERVIEW Address:
2250 W. John Carpenter Freeway Irving, Texas 75063
127,433 square feet
Percentage Leased: 95% Year Built: 1998 Stories: 5 Site:
709 parking spaces for a parking ratio of 5.6 per 1,000 square feet. Includes a two and a half level parking garage consisting of 325 spaces.
TENANCY OVERVIEW Square Feet
% of Property
Remaining Lease Term
Exeter Financial Group
HFF | 2
Rental Rates (PSF)
LAS COLINAS OCCUPANCY VS. RENTAL RATES INSTITUTIONAL QUALITY ASSET WITH IDEAL HIGHWAY VISIBILITY 2250 W. John Carpenter is a 127,433 square foot, institutionally maintained Class A office building with excellent visibility and easy ingress and egress near Highway $28.00 88% the intersection of State Highway 114 and State 161 in Las Colinas. Because of its central location, the Property is easily accessible from anywhere in Dallas/ $27.00 Ft. Worth. Built in 1998, the Property’s efficient 86% rectangular floor plates and 5.6 per 1,000 square feet parking $26.00 ratio cater to tenants of all sizes. The Property also offers floor-to-ceiling windows and structured parking in an 84% $25.00 adjacent 325-space garage. The Property is strategically located just minutes from DFW International Airport.
STABLE IN-PLACE CASH FLOW $23.00 Currently 95% leased to Exeter Financial Group 80% and the Defense Contract Audit Agency (DCAA-GSA), 2250 W. $22.00 John Carpenter possesses an average remaining78% lease term of 7.1 years. In addition to significant lease term, $21.00 the Offering provides an investor with stable cash flow given the credit nature of the tenancy. Additional credit 76%credit through Exeter. $20.00 support is available through a $1.9 million letter of 2011
Class A Rental Rate DISCOUNT TO REPLACEMENT COST & BELOW MARKET RATESClass A Occupancy The offering presents a unique opportunity to acquire a long-term leased asset at a significant discount to replacement cost – which is estimated to be in excess of $250 per square foot. Additionally, the in-place rental rates are 19% below market upon rollover providing significant upside upon lease expiration.
LAS COLINAS OFFICE MARKET The Las Colinas office market is one of Dallas/Ft. Worth’s top suburban submarkets. The area experienced over 1.1 million square feet of positive absorption in the last 12 months equating to roughly 15% of the total DFW amount. Fortune 1000 companies that are headquartered in Las Colinas include Exxon Mobil, Kimberly Clark, Celanese, Fluor, and Pioneer Natural Resources. The area has continued to add to the already impressive list of global firms that call Las Colinas home. 2250 W. John Carpenter is located in the Office Center/West LBJ submarket of Las Colinas. As of first quarter 2016, Class A buildings in the submarket had an average occupancy of 92.3%, and experienced rent growth of 6% in 2015 to $27.01 per square foot full service through first quarter 2016.
West LBJ/OFFICE CENTER RENTAL RATES and OCCUPANCY WEST LBJ/OFFICE CETNER RENTAL RATES AND OCCUPANCY 98.0%
90.0% $24.00 88.0% $23.00
Submarket Class A Occupancy Submarket Class A Rental Rate
HFF | 3
LAS COLINAS LOCATION Las Colinas is a 12,000 acre, master-planned development in the center of DFW immediately adjacent to the DFW International Airport. The market is a preferred location for corporate users due to its central location, diverse amenity base and abundant residential options. • • • •
Gables broke ground on the Water Street development in the fall of 2015. The development will feature 340 multifamily units and 60,000 square feet of retail on the north shore of Lake Carolyn. The Irving Music Factory is a state-of-the-art $165 million development scheduled to open late-2017. The development will feature multiple outdoor stages, an open plaza and a large 8,000-seat amphitheater. Over 1,500 new single family homes and approximately 2,500 multi-family units either planned or under construction. Hines is developing the Parkside and Bridges at Las Colinas neighborhoods next door and across the highway from the Property. Downtown Dallas Irving Convention Center Las Colinas Irving Music Urban Center Factory
Oracle Goldman Sachs Microsoft
Las Colinas Office Center
ge Bush Turnpik
Caliber Home Loans, Inc.
HD Vest Bell Sports
W. J O H N C A R P E N T E R I RV I N G , T E X AS
On The Border
Circl Cam pus
e Dr .E
Right Source LifeSynch
Maxim Semiconductor Facility
Four Seasons Resort & Club at Las Colinas
President Geor Hackberry Creek 1,263 Homes
Christus Health La Quinta Inn
Hines Bridges at Las Colinas Single Family Development (399 lots) Hines Parkside East Single Family Development (250 lots)
820 Fort Worth Meacham Airport
C HI SHOLM T
IL P RA
Dallas/Fort Worth International Airport
FARMERS BRANCH LAS COLINAS
DALLAS LOVE FIELD AIRPORT
White Rock Lake
I RV I N G , T E X AS
W. J O H N C A R P E N T E R
COLLEYVILLE NORTH RICHLAND HILLS
ENT GEORGE BUSH T SID UR NP I
Fort Worth Alliance Airport
Mountain Creek Lake
BELT DALWORTHINGTON If you have any questions or require additional information, please contact the individuals below. JUNCTION FOREST HILL GARDENS 20 ANDREW LEVY | Senior Managing Director | [email protected] | 469.232.1961
TODD SAVAGE | Managing Director | [email protected] | 469.232.1930 EDGECLIFF ELIZABETH MALONE | Director | [email protected] | 469.232.1964 VILLAGE CHRIS MURPHY | Associate Director | [email protected] | 469.232.1941 ADAM KRAUS | Real Estate Analyst | [email protected] | 469.232.1942 For questions regarding debt structures on this property, please contact:
45 CEDAR HILLHFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] 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.