Overview
Younger Partners, as exclusive advisor, is pFully Leased to present Waters Ridge Tech Center at 1945 Lakepointe Drive in the thriving northern Dallas suburbs of Lewisville, TX. Located just North of DFW International Airport, the 100% occupied asset is a best-in-class, multi-tenant office / flex building with 136,000 square feet. Combining established income and an attractive basis, potential Buyers should reap the benefits of secured cash flow that is backed by publicly traded tenancy in one of the region’s preferred office environments.
1945 Lakepointe is home to two tenants: Teladoc and Xerox. The buildings’ occupants are recognizable corporate operations with strong credit and WALT of over 7.5 years. The security of the in-place income should help investors hedge against inflationary pressures in the market today.
Occupying over 80% of the building follow a recent expansion, Teladoc has steadily grown in the building and is a prime candidate to take over the balance of the space in the long run. The opportunity to convert the building into a single-tenant, net Fully Leased asset would be a huge value lift for potential buyers as they consider various exit strategies.
Available as-is, the building was built in 1999 and offer timeless architecture and in demand space. Offering efficient shallow-bay floor plans, dock high loading availability, convenient in-and-out access, and attractive parking capabilities the building has appealing features in a post-pandemic world. Dedicated / controlled HVAC, direct accessibility, limited social interactions and lower operating costs are just a few of the benefits when compared with traditional mid and high rise office space.
Available at a staggering discount to replacement cost (est $275/sf), the building is located in a preferred submarkets for corporate tenancy given the surrounding demographics and proximity to workforce. Combining dense parking with adaptable floor plans, the buildings should allow a first time buyer to the market to enter DFW with scale or an existing owner in the area to diversify and strengthen an existing portfolio.
1945 Lakepointe is home to two tenants: Teladoc and Xerox. The buildings’ occupants are recognizable corporate operations with strong credit and WALT of over 7.5 years. The security of the in-place income should help investors hedge against inflationary pressures in the market today.
Occupying over 80% of the building follow a recent expansion, Teladoc has steadily grown in the building and is a prime candidate to take over the balance of the space in the long run. The opportunity to convert the building into a single-tenant, net Fully Leased asset would be a huge value lift for potential buyers as they consider various exit strategies.
Available as-is, the building was built in 1999 and offer timeless architecture and in demand space. Offering efficient shallow-bay floor plans, dock high loading availability, convenient in-and-out access, and attractive parking capabilities the building has appealing features in a post-pandemic world. Dedicated / controlled HVAC, direct accessibility, limited social interactions and lower operating costs are just a few of the benefits when compared with traditional mid and high rise office space.
Available at a staggering discount to replacement cost (est $275/sf), the building is located in a preferred submarkets for corporate tenancy given the surrounding demographics and proximity to workforce. Combining dense parking with adaptable floor plans, the buildings should allow a first time buyer to the market to enter DFW with scale or an existing owner in the area to diversify and strengthen an existing portfolio.
Key Facts
In Demand Asset Class Secure In-Place Tenancy Value Enhancements Institutional Mindset Best Market in the Country Corporate HUB Top Market for Investment Economic Diversification
Documents
Waters Ridge Tech Center_Teaser.pdf.pdf
