Office For Sale in 75007
2 results
Address
Asking Price
Creekview Office Center
2801 N Interstate 35E
Carrollton, TX
Lot Size:4.44Acres
Former Medical Space - Urgent Care Center. Great Finish Out. End Cap Space w/ IH-35E Visibility.
$2,850,000
Investment Opportunity | 3740 N Josey Lane
3740 N Josey Ln
Carrollton, TX
Lot Size:1.01Acres
44,024 SF | 2.48 Acres | 94.1% Occupancy
Colliers International is pleased to exclusively offer to qualified investors 3740 Josey Lane (the “Property”), comprised of a two-story office building containing 44,024 square feet located in the Upper Tollway/West Plano Office Submarket and the Carrollton Micro-Market. Built out for multi-tenant occupancy, the assets tenant spaces have continuously been refurbished and take advantage of an efficient design and layout. The asset currently offers the ability to park at a ratio of approximately 3.86/1,000 or 152 parking spaces in total that surround the asset giving convenient access to front and rear entries. Increased activity and prominence in the Upper Tollway/West Plano submarket have positioned 3740 Josey Laneas a unique and desirable asset.
The approximate $8.50 spread between Class A & B rental rates in the sub-market position 3740 Josey Lane as a formidable competitor and good choice for tenants looking for viable options in the submarket. The recent and planned capital expenditures on the asset coupled with potential rental rate increases on future renewals and new leases at 3740 Josey Lane provides the opportunity to substantially boost cash flow.
At 94.1% occupancy, 3740 Josey Lane provides stable, in-place cash flow with the opportunity to increase the revenue through the lease up of the existing vacancy and potential expansions in the remaining vacancy. The Property’s tenant mix is comprised of law firms, professional service firms and various medical practices. The strong diversification in the rent roll coupled with steady tenant lease churn, helps to mitigate risk to an investor.
The asset will receive a new roof with a 20 year warranty applied and the work is scheduled to be completed in August of 2018. Previous renovations to the Property include elevator modernization, window resealing, HVAC replacement, restroom upgrades and ADA compliance, and complete lobby renovation with artwork, area rugs and furniture installed.
The offering presents an exciting opportunity for investors to secure a unique, stabilized, high quality asset with steady long-term cash flow at a significant discount to replacement cost in the vibrant Upper Tollway/West Plano submarket.
Click here to sign the CA and gain immediate access to the offering memorandum
Diversified tenancy
Stable, predictable submarket
Well-maintained property with minimal capex needs and an above market cash-on-cash yield
Healthcare micro sub-market in Carrollton adds additional value add opportunity
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Market Stats
75007 has 75 commercial real estate spaces for lease, representing 584,759 sqft space.
19 buildings are available for sale.
In the past 30 days, 75007 has had 3 spaces leased.
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