for sale - loopnet · 450 e john carpenter freeway, irving, tx 75062. title: powerpoint...
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For Sale450 E John Carpenter Freeway, Irving, TX 75062
Doug CarignanDirect +1 214 438 6175Mobile +1 214 707 [email protected]
Elizabeth FortadoDirect +1 214 438 6384Mobile +1 972 310 [email protected]
Brooke ArmstrongDirect +1 214 438 6179Mobile +1 214 675 [email protected]
Sale Price: $8,741,400 ($150.00 / RSF)
• Building Address: 450 E John Carpenter Fwy, Irving, TX 75062
• Class: B
• Year Built: 1984
• Number of Stories: 3
• Land Size: 2.71 Acres
• Rentable Building Area: 58,276 SF
• Typical Floor Size: 17,089 SF
• Parking Ratio / 1,000 RSF: 5.0
• Zoning: CO, Irving
• Short Term Sale-Leaseback Opportunity
• Seeking Owner/Occupier
• High Visibility off SH-114
• Drive Times:
o DFW International Airport: 15 Minutes
o Dallas Love Field: 20 Minutes
o Dallas CBD: 15 Minutes
Property Highlights:
Sale Price: $8,741,400 ($150.00 / RSF)
Typical Floor Plan – 17,089 RSF
Lower Level – 12,450 RSF
Sale Price: $8,741,400 ($150.00 / RSF)
First Floor – 14,057 RSF
Second Floor – 15,126 RSF
Sale Price: $8,741,400 ($150.00 / RSF)
Third Floor – 17,052 RSF
Net Absorption and New Supply
Total Vacancy
Class A & B Rental Rates
-
200,000
400,000
600,000
800,000
1,400,000
1,200,000
1,000,000
2015 2018 Q1 20192016 2017
Net Absorption New Supply
18.0%
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
20.0%
2015 2017 Q1 20192016
Total Vacancy
2018
Average Vacancy
$35.00
$30.00
$25.00
$20.00
$15.00
$10.00
$5.00
$-
2015 2016 2018 Q1 20192017
Class A Class B
Irving / Las Colinas
Established corporate office hub always in the running as a strategic location
• Irving / Las Colinas continues to be a preferred office hub due to the presence of a diverse line-up of major corporations, its strong regional access, and perceivedvalue compared to other competitive submarkets.
• Relatively low vacancy and steady demand has continuedto drive rents in this desirable submarket, with Cypress Waters establishing a new business hub having delivered 2.3 million SF of new development and another 900,000 SF now under construction.
• Vacancy will like tick-up this year as Pioneer Resources completes its new 1 million SF HQ at Hidden Ridge and completes moving its employees from Williams Square inthe heart of Las Colinas.
CurrentQuarter YoY Change
Inventory 32,517,602
% of Total Market 14.8%
Direct Vacanct % 15.3%
Total Vacant % 17.5%
YTD Net Absorption 219,360
Under Construction 2,194,400
YTD Deliveries -
Average Asking Rent $27.49
Q1 2019 Submarket Overview
WATERSTREET
• Twisted Root• Olivella’s• Roti Mediterranean Grill• Main Street Bistro and
Bakery• Salata• Barcelona Taco
• Café Herrera• Planet Sub• Londoner Pub• Gelato Concept (soon
to be named)• Sushi Concept (soon to
be named)
MUSIC FACTORY
• LiveNation 8,000 seat venue
• Alamo Drafthouse• Sambuca• Yard House• Gloria’s• Kabuki Sushi
• Grimaldi’s• TCBY• 5 Darden Restaurants• Thirsty Lion• Steakhouse (soon to be
named)
Close proximity to ± 20 hotels
Within one mile of numerous restaurants
Easy access to E John Carpenter Fwy and Northwest Hwy
Short distance from multiple fitness centers
Doug CarignanDirect +1 214 438 6175Mobile +1 214 707 [email protected]
Elizabeth FortadoDirect +1 214 438 6384Mobile +1 972 310 [email protected]
Brooke ArmstrongDirect +1 214 438 6179Mobile +1 214 675 [email protected] Sale
450 E John Carpenter Freeway, Irving, TX 75062