Property Type: Office

Younger Partners, as exclusive advisor, is pleased to present Park Ventura Office Park, a compelling core-plus investment in the thriving northern Dallas suburb of Plano, TX. Located just off of coveted Preston Road, the 88% occupied development is comprised of three Class B+ multi-tenant office buildings totaling approximately 194,000 square feet. Combining established income and the upside of added value, potential Buyers should be able to capitalize on continued leasing and mark-to-market renewals in one of the region’s preferred office environments.

Available as-is, Park Ventura was built in 1999 and offers timeless architecture and in demand office space featuring dedicated / controlled HVAC, direct accessibility, limited social interactions and lower operating costs when compared with traditional mid and high rise office space. Positioned on 16-acres, the buildings are located with convenient accessibility to Preston Road, The Dallas North Tollway, Legacy, George Bush Turnpike and Central Expressway. This prime location provides walkability to the amenity rich Preston Park Colonnade, Polo Towne Crossing and the premier restaurant and retail options on Park Boulevard.

Plano is one of the country’s fastest growing suburban communities. The growth continues to be exponential as Plano remains the preferred destination for corporate relocations into the DFW Metroplex. A significant portion of the region’s Fortune 1000 companies have relocated to Plano for their North American headquarters, including Toyota, NTT Data, Frito Lay, Keurig Dr. Pepper, and Liberty Mutual.

Two American Center is a 94,017 SF, five-story Class A Office building centrally located on South Loop 323 in Tyler. The building has excellent visibility and access to Broadway Avenue with an abundance of retail shops, restaurants and banks nearby.

Younger Partners has been exclusively retained to offer qualified investors the opportunity to acquire a high quality, Class B office asset commonly known as Midway Atriums I, II & III (“Property”).  Standing 4-stories, the three building campus is located along heavily traveled Midway Road, just north of the Spring Valley Road intersection.  Currently 76% occupied, the existing tenancy should provide stable and on-going cash flows with a forecast NOI of roughly $2M in the first year.  Predominantly leased on a Plus Electric basis, with an average in-place lease rate of roughly $16.50/sf.  Average lease rates in the Far North Dallas office market are currently $26.85/sf FS.  With existing lease rates radically below the current market, the in-place tenancy and existing vacancy offers new ownership an outstanding to drive value through market repositioning and lease up.

Preston Trail Atrium is located in close proximity to two of Dallas / Fort Worth’s busiest highway systems and a short distance from the region’s most in-demand office submarkets (Legacy / Frisco). This highly desirable location is achieving premium market rental rates. Offering small and medium tenant options, the building appeals to tenants with ties to the community that want the benefit of neighborhood accessibility and amenity connectivity. Preston Trail Atrium benefits from a diverse tenant roster of seventeen, with no tenant commanding more than 15% of the rentable square footage. This ensures dependable cash flows that are complimented by mark-to-market renewal possibilities and new tenant leasing. Located along Preston Road, the area has historically operated at a discount to comparable space along the Dallas North Tollway. Tenants priced out of surrounding submarkets can expect to achieve a 10% to 20% rental rate discount at Preston Trail.

Alpha Centre is a 45,632 SF, three story Class A office building located at Highway 110 and the South Loop 323 in Tyler, TX. The building has excellent visibility and an abundance of retail, restaurant and banking options nearby.