OFFERING SUMMARY - LoopNet...American Airlines and Southwest Airlines among others. Dallas/ Ft....

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OFFERING SUMMARY 1380 RIVER BEND DRIVE DALLAS, TEXAS 75247 Exclusively offered by:

Transcript of OFFERING SUMMARY - LoopNet...American Airlines and Southwest Airlines among others. Dallas/ Ft....

Page 1: OFFERING SUMMARY - LoopNet...American Airlines and Southwest Airlines among others. Dallas/ Ft. Worth is home to twenty-one Fortune 500 headquarters. The economic outlook for Dallas

OFFERING SUMMARY 1380 RIVER BEND DRIVE

DALLAS, TEXAS 75247

Exclusively offered by:

Page 2: OFFERING SUMMARY - LoopNet...American Airlines and Southwest Airlines among others. Dallas/ Ft. Worth is home to twenty-one Fortune 500 headquarters. The economic outlook for Dallas
Page 3: OFFERING SUMMARY - LoopNet...American Airlines and Southwest Airlines among others. Dallas/ Ft. Worth is home to twenty-one Fortune 500 headquarters. The economic outlook for Dallas

3

Property Overiew 5

Aerials & Photographs 9

Trade Area AerialProperty Photgraphs

Survey ,Site Plan and Renderings 13

Dallas Area Overview 21

Disclaimers 27

TREC Information About Brokerage Services

Table of Contents

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An Exclusive Offering Summary4

INVESTMENT OVERVIEW

ADDRESS: 1380 River Bend DriveDallas, Texas 75247

LAND AREA: Approximately 140,893 square feet (3.2344 Acres)

BUILDING AREA: Approximately 54,380 square feet

BUILDING CONSTRUCTION: Tilt Wall

CONSTRUCTION DATE: 1980

CLEAR HEIGHT: 15’ 9”

ZONING: Mixed Use 3 (MU-3)

OFFERING PRICE: $3,800,000

With inherent structural and locational qualities, 1380 River Bend is well poised for an adaptive reuse project. The roughly 110’ x 480’ building runs parallel to the Elm Fork of the Trinity River, which provides a tranquil setting with ample greenery and mature trees and creates a bucolic residential or commercial environment. The broader area is experiencing a renaissance due to several factors, including the ever expanding Medical District, the recently unencumbered Love Field Airport, the reinvigorated Stemmons Corridor and the new developments and amenities emanating from these catalysts.

The property’s MU-3 zoning will accommodate a number of uses and could be utilized to incorporate a wide variety of uses simultaneously, including residential, office, medical office, and retail, among others. The property could also easily be replatted and demised to be sold piecemeal to individual users.

Due to the property’s location, the dynamism of the DFW economy, the shrinking number of undeveloped tracts in Dallas’ urban core, the permissive zoning and the relative inexpensiveness of the site compared to other desirable urban core sites, 1380 River Bend represents an attractive and unique investment opportunity with long term viability and the potential for significant upside.

PROPERTY OVERVIEW

ADDRESS: 1380 River Bend DriveDallas, Texas 75247

LAND AREA: Approximately 140,893 square feet (3.2344 Acres)

BUILDING AREA: Approximately 54,380 square feet

BUILDING CONSTRUCTION: Tilt Wall

CONSTRUCTION DATE: 1980

CLEAR HEIGHT: 15’ 9”

ZONING: Mixed Use 3 (MU-3)

OFFERING PRICE: $3,800,000 ($27 PSF to the land or $70 PSF to the building)

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SURVEY & SITE PLANS

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AERIAL PHOTOGRAPHS

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PROPERTY PHOTOGRAPHS

Page 9: OFFERING SUMMARY - LoopNet...American Airlines and Southwest Airlines among others. Dallas/ Ft. Worth is home to twenty-one Fortune 500 headquarters. The economic outlook for Dallas
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PROPERTY RENDERINGS

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DALLAS AREA OVERVIEW

With a current population of more than 7.2 million, Dallas/Fort Worth is the 4th largest metropolitan statistical area in the United States. The Dallas area is currently ranked 1st in the nation for job growth according to MPF Research. The DFW area added 116,800 jobs through the 12 months ending February 2016. DFW is expected to add another 114,000 jobs over the next year.

41 FORTUNE 1000 HEADQUARTERS IN DALLAS-FORT WORTHWELL-DIVERSIFIED ECONOMY

The Southwest’s leading business center is home to more than 1,500 corporate headquarters including Exxon-Mobil, AT&T, Dr. Pepper/Snapple, Texas Instruments, JCPenney, American Airlines and Southwest Airlines among others. Dallas/ Ft. Worth is home to twenty-one Fortune 500 headquarters.

The economic outlook for Dallas remains strong due to the low cost of doing business, no state income tax and the expansion of a broad range of industries. During 2015, DFW’s population grew by 2.1% and employment grew by 3%, nearly doubling the national average. Also, Dallas/Fort Worth continues to be one of the fastest growing metros in the country.

DFW has an intricate infrastructure of transportation systems including international airports, highways and railways. Dallas’ airport and central location give an advantage to relocating companies, as every major city in the continental United States can be accessed in under 4 hours. The Dallas/ Ft. Worth International Airport, which encompasses more than 18,000 acres, is the world’s fourth busiest airport by operations and a major economic engine for the region. As of January 2016 DFW had a service to a total of 209 destinations; 58 international and 151 U.S. domestic destinations. Almost 65 million passengers travel through DFW International Airport every year, along with Dallas Love Field’s 15 million. DFW has a $37 billion impact on the economy each year and provides 204,000 jobs.

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ECONOMIC HIGHLIGHTSJob growth — Job production continues at solid levels in the North Texas Region. Dallas/Ft. Worth created 116,800 jobs through the 12 months ending February 2016. DFW employment figures are above pre-recession levels. Dallas currently ranks 1st in the U.S. for job growth.Corporate relocations — The city’s central location, relatively cheap cost of living, and young, educated work force have attracted many large corporations from across the country. Recently, Liberty Mutual, Toyota, FedEx, State Farm, AT&T and Comerica Bank have relocated their corporate regional headquarters to Dallas.

EXPANDING POPULATIONAccording to a recent report from the U.S. Census Bureau, 13 of the 15 cities that added the most people between 2013 and 2014 are located in the South or West, and seven of the nation’s ten biggest cities are now located in the Sun Belt region. Dallas/Fort Worth has benefited greatly from this population shift, as it was the 2nd fastest-growing metro area in the nation from 2000 to 2010. That prosperity has continued recently as the metroplex recorded the second largest population increase in the nation from July 1, 2013 to July 1, 2014, adding 131,217 people. DFW’s explosive population growth is expanding the area’s relatively young and highly skilled workforce, as 50 percent of the population is between the ages of 20 – 54 and 31 percent of those employees over 25 have a bachelor’s degree or higher. By 2040, the region’s population is expected to reach 10.5 million and have an employment base of approximately 6.6 million.

1st LARGEST EMPLOYMENT GROWTH (FEBRUARY 2016)

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SURROUNDING AREA PRESS

STORY/STONE, RACHEL PHOTOS/DANNY FULGENCIO“BLAZING TRAILS”.

ADVOCATE MAGAZINE - ADVOCATEMAG.COM[OAK CLIFF} OCTOBER 2016

STORY/BROWN,STEVE “NEW REAL ESTATE PROJECTS ARE TAKING OFF AROUND

DALLAS’ BUSY LOVE FIELD”.REAL ESTATE - https://twitter.com/SteveBrown

[DALLAS] MARCH 24, 2016

http://www.dallasnews.com/business/real-es-tate/2016/03/24/new-real-estate-projects-are-taking-off-

around-dallas-busy-love-field

STORY/BROWN,STEVE “LOVE FIELD BOOM PROMPTS ANOTHER REAL ESTATE

PLAY ON MOCKINGBIRD LANE”.REAL ESTATE - https://twitter.com/SteveBrown

[DALLAS] AUGUST30, 2016

http://www.dallasnews.com/business/real-es-tate/2016/08/30/love-field-boom-prompts-another-real-es-

tate-play-mockingbird-lane

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Information About Brokerage ServicesBefore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an intermediary. The

written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:

(1) shall treat all parties honestly;(2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.

If you choose to have a broker represent you,you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Buyer, Seller, Landlord or Tenant Date

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaintregarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960. 01A TREC No. OP-K

Approved by the Texas Real Estate Commission for Voluntary UseTexas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

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PATRICK HUNT ASSOCIATE972.774.2590

[email protected]

CONTACT INFORMATION5001 Spring Valley Road • Suite 400W • Dallas, Texas 75244

Telephone: 972.774.2500 • Fax: 972.361.1197

www.transwestern.com/dallas