Property Type: Office

Younger Partners is pleased to offer qualified investors the opportunity to purchase
Collins Square (Property), an immaculately renovated low-rise office
asset at the heart of the Richardson Innovation District. The unassuming, four story
office building offers a desirable combination of secure income and upside
through leasing newly vacant office space. Comprised of 215,130 square feet of
freshly renovated space, the Property is 74% leased, of which 65% of the GLA is
occupied by Travelers Insurance (NYSE: TRV) through 2030. In addition to the
cash flow stability provided by the Travelers lease, Collins Square offers a compelling
value-add lift through new leasing efforts. A tenant in the building since
2002, Travelers mission critical occupancy was recently right-sized which
opened up functional office space that hasn’t been available in a decade. Ranging
in size from 3,000 to 20,000 square feet, the six vacant spaces should appeal
to a wealth of tenants seeking a quality office environment and value pricing.

Collins Square is located within the Richardson Submarket well known as the
Telecom Corridor. Home to a number of the world’s largest technology and
telecommunications companies (Texas Instruments, Cisco, and Fujitsu Network
Communications) the area is well regarded by employers because of the abundant
supply of a qualified labor force. Despite being known for telecommunications,
a majority of the submarket’s office space is made up of healthcare and
insurance firms. The submarket provides a highly talented labor force with 55%
of the population holding a bachelor’s degree or higher.

Collins Square benefits from direct access to all of the Dallas-Fort Worth
Metroplex via US-75 (334,000 VPD) and President George Bush Turnpike
(164,000 VPD). The area’s accessibility is also improved by four DART rail stations,
more than any other suburban office submarket in the metroplex.

Available at a sizeable discount to replacement cost, Collins Square has been
extensively renovated to limit the need for additional capital other than good
news dollars for new leasing.

Located on a large land parcel (13.146 acres), Collins Square has an unutilized
green space on the west side of the building that could possibly be utilized to
further expand the building’s parking capacity above the current 4.35/1,000
ratio.

Younger Partners has been exclusively retained to offer qualified buyers the
opportunity to acquire Lyndon Office Plaza (Property). Comprised of three
buildings and a parking structure, the site area includes just under 7 acres of
high-profile, freeway fronting land. Zoned CS (Commercial Service), the site is
accessible off of the newly expanded IH-635 (LBJ Freeway) at the heart of the
thriving Garland industrial submarket where market occupancy is 95%.

57% leased to a roster of small office tenants, the buildings offer existing cash
flow to a potential buyer as development plans are finalized. The majority of
the leases are slated to mature in 2025 which should help facilitate a quick
timetable to shovel ready dirt.

Younger Partners is pleased to offer to qualify investors an opportunity to acquire a stable income generating medical asset in a central location of DFW, one of the strongest markets of the country. Centrally located on NWC of SH-190/ President George Bush Turnpike and Coit Road in Plano, it’s 25 minutes away from both DFW Airport and Downtown Dallas, and near some of North Dallas’ most popular suburbs like Frisco and Richardson. The location is positioned between a dense area of high-income residential communities and nearby busy retail destinations.

Younger Partners, as exclusive advisor for the Receiver, is pleased to present the opportunity to acquire Preston Plaza (the “Property”), a prominently positioned office building located in North Dallas at the high-profile intersection of Preston and Frankford Roads. The Property consists of a 10-story, trophy office tower spanning 259,000 SF with a 5-level structured parking garage on a 6.29-acre site. The Property is currently 35% occupied, and offers untapped upside through reinvigoration. The offering is being made unpriced and on and “as-is” basis. Originally constructed in 1986, Preston Plaza has been meticulously maintained and renovated a number of times, most recently 2020. The latest modernizations have laid the groundwork to reclaim a spot amongst the premier office assets in North Dallas.

The opportunity at Preston Plaza is to continue pursuing small, suburban office tenants that are the bread and butter of North Dallas, while backfilling larger vacancies that were created in the last year. When you consider the fundamentals of an attractive acquisition basis, dynamic location and in-place amenities, then layer in fresh capital to aggressively pursue tenants, the result is a range of repositioning and possible development strategies in the nation’s strongest market for job and population growth. Preston Plaza is uniquely positioned to appeal to the surrounding residents and provide a vibrant live-work-play location on Preston Road that avoids the daily grind of the Dallas North Tollway. Preston Plaza offers an unparalleled mixed-use amenity base and prestige of a true Class A office environment amongst the mostly Class B competitive set on Preston Road.

Available at a staggering discount to replacement cost (est $450/sf), Preston Plaza is located on a highly coveted and efficient 6.29-acre redevelopment site. The existing occupancy (35%) offers contractual revenues to operate the building and bridge the gap while pursuing zoning and entitlements for a reimagined use of a true in-fill location.

Tollway Plaza – Suite 230/240 – 06/18/24