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11.47 AC – Core Opp Zone Portfolio – Dallas, Texas

Building

Price:  Market


NOI:  $173,171


Cap Rate:  Market


Debt:  Free & Clear


Building Size:  72,467


Occupancy:  100


Lot Size:  4.79 AC / 208,682 SF


Zoning:  PD 595 RS-I(E)


Building

Price:  Market


NOI:  $258,113


Cap Rate:  Market


Debt:  Free & Clear


Building Size:  48,484


Occupancy:  100


Lot Size:  0.78 AC / 33,977 SF


Zoning:  PD 595 MF-1(A)


Land

Price:  Market


Cap Rate:  Market


Debt:  Free & Clear


Building Size:  0 SF


Occupancy:  NNN


Lot Size:  2.35 AC / 102,268 SF


Zoning:  PD 595 MF-1(A) & HM-1 & SH-1 & HM-1


Building

Price:  Market


Cap Rate:  Market


Debt:  Free & Clear


Building Size:  27,295 SF


Occupancy:  NNN


Lot Size:  3.25 AC / 141,778 SF


Zoning:  WMU-5 & SH-1


Land

Price:  Market


Cap Rate:  Market


Debt:  Free & Clear


Occupancy:  NNN


Lot Size:  0.29 AC / 12,750 SF


Zoning:  PD 595 (MF-2A)


Please provide the below information to view this property's offering memorandum.






    PrincipalBroker

    Confidentiality And Conditions Agreement

    This will serve to confirm our agreement concerning certain material, data and information (the “Underwriting Package”) which Davidson Bogel Real Estate, L.L.C (“Listing Agent”) may make available to Prospective Purchaser for study in connection with a possible purchase by Prospective Purchaser of the Property.

    Listing Agent or Owner is prepared to furnish Prospective Purchaser with the Underwriting Materials in connection with discussions and negotiations concerning a possible transaction involving the Property only on the condition that Prospective Purchaser treat Underwriting Materials confidentially and confirm certain representations to Listing Agent. Therefore, as a prerequisite to Listing Agent’s furnishing to Prospective Purchaser the Underwriting Materials, Prospective Purchaser hereby represents and agrees to the following:

    1. The Underwriting Materials furnished to Prospective Purchaser will be used by Prospective Purchaser solely for evaluating a possible transaction exclusively for our own account, as principal in the transaction, and not as broker or agent for any other person. Therefore, Prospective Purchaser agrees to keep the Underwriting Materials strictly confidential for a period of 12 months; provided however that any such Underwriting Materials may be disclosed to Prospective Purchaser’s directors, officers or employees, as well as its counsel, accounting firms and financial institutions who need to know such information for the purpose of assisting with Prospective Purchaser’s possible purchase of the Property. Such directors, officers, lawyers, financial institutions and accountants shall be informed by Prospective Purchaser of the confidential nature of such information and shall be directed by Prospective Purchaser to hold such information in strict confidence and otherwise comply with the terms of this agreement. Prospective Purchaser shall be responsible for breach of this Agreement of such persons.

      Prospective Purchaser agrees not to copy or duplicate the Underwriting Materials and to return the Underwriting Materials to Listing Agent promptly if Prospective Purchaser decides to discontinue discussions, or if requested by Listing Agent or Owner.

    2. Although Listing Agent has endeavored to include in the Underwriting Materials information which Listing Agent believes to be relevant for the purpose of helping Prospective Purchaser in Prospective Purchaser’s evaluation of the Property for possible purchase, Prospective Purchaser understands and acknowledges that neither the Seller of the Property nor Listing Agent make any representation or warranty to Prospective Purchaser as to the accuracy or completeness of the Underwriting Materials. Prospective Purchaser agrees that Seller and Listing Agent shall not have any liability to Prospective Purchaser as a result of our use of the Underwriting Materials and it is understood that Prospective Purchaser is expected to perform and be responsible for such due diligence, investigations and inspections of the Property, including investigation of any environmental conditions, such as ADA (Americans with Disabilities Act), hazardous waste and flood zone as it deems necessary or desirable and as permitted by agreement with the Owner of the Property.
    3. Prospective Purchaser also warrants and represents that no broker or agent represents or will represent it in any possible transaction involving the Property. Prospective Purchaser is advised that Davidson Bogel Real Estate, L.L.C. is acting on behalf of Owner as exclusive agent in connection with the investment in this Property. Should the Prospective Purchaser elect to have representation by a Co-broker, Prospective Purchaser hereby agrees that any fees earned by or owed to Co-broker in connection with this transaction will be paid by the undersigned Prospective Purchaser, unless otherwise agreed to in writing by Davidson Bogel Real Estate, L.L.C., Prospective Purchaser and Co-broker. Prospective Purchaser agrees to indemnify and hold harmless Davidson Bogel Real Estate, L.L.C., Owner, their respective affiliates, successors and assigns, employees, officers and directors against and from any loss, liability or expense, including reasonable attorney’s fees, arising out of any claim or claims by Co-broker, finder or similar agent for commissions, fees or other compensation for bringing about any investment in the Property by Prospective Purchaser.
    4. Prospective Purchaser hereby acknowledges that Prospective Purchaser has been informed, both orally and by this written disclosure, that:
      1. Listing Agent through Cameron Deptula are acting as Agent(s) of the Seller of the Property, and
      2. Any information given by Prospective Purchaser to Listing Agent may be disclosed to the Seller.
    5. While Owner and/or Listing Agent may discuss the purchase and sale of the Property with Prospective Purchaser, either Owner or Listing Agent, in our sole and absolute discretion, may terminate discussions at any time and for any reason. Recipient acknowledges Owner has no obligation to discuss or agree to the sale of any of the Property. The discussions may be lengthy and complex, notwithstanding that we may reach one or more oral understandings or agreements on one or more issues we are discussing, neither of us shall be bound by any oral agreement of any kind and no rights, claims, obligations or liabilities of any kind, either express or implied, shall arise or exist in favor of or be binding upon either Owner or Listing Agent except to the extent expressly set out in a written agreement signed by both Owner and Listing Agent.

      THE OWNER EXPRESSLY RESERVES THE RIGHT AT ITS SOLE DISCRETION TO REJECT ANY OR ALL PROPOSALS OR EXPRESSIONS OF INTEREST IN THE PROPERTY AND TO TERMINATE DISCUSSIONS WITH ANY PARTY AT ANY TIME WITH OR WITHOUT NOTICE.

    6. Prospective Purchaser agrees not to contact the tenants, leasing brokers or Property management staff of the Property in connection with recipient’s review of the Confidential Information.
    7. THIS CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATION OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OF PREPARATION OF THIS MEMORANDUM.
    8. This Agreement is for the benefit of Owner and may be enforced by Owner.
    9. Prospective Purchaser acknowledges that in the event Prospective Purchaser breaches any provision of this Agreement, or threatens or attempts to do so, Owner would be irreparably harmed. “Accordingly, you agree in advance to the granting of injunctive or other equitable relief in favor of Owner without proof of actual damages, in addition to other remedies available at law or in equity.
    10. This agreement will be in effect for a period of one (1) year of execution.

    If you do not wish to pursue negotiations leading to this acquisition, or if in the future you discontinue such negotiations, you agree to return all confidential information to Listing Agent. Otherwise, please agree below.

    * Fields marked with asterisk are required. You must check terms acceptance box to view this OM.

    Contact us about this property  

    Highlights

    • Rare qualified Opportunity Zone investment at the entrance of Fair Park in Dallas, Texas – largest compilation of infill properties in Dallas CBD.
    • Unique covered land play with immediate redevelopment opportunities and existing cash-flow which boasts an incredible value-add opportunity.
    • Extremely rare urban / core portfolio totaling 11.47 AC, located within a high-growth and high-barrier of Dallas, Texas. (OFFERING CAN BE PURCHASED AS A PORTFOLIO OR SEPARATELY AS INDIVIDUAL INVESTMENTS).
    • Strategically positioned just east of the coveted Deep Ellum District, home of Uber’s Dallas HQ and The Cedars, both high-growth markets. Each Property will also benefit from the $85MM + Fair Park revitalization plan.
    • Unbeatable access to all major arteries (Central Expressway – Highway 75), Interstate 30, Interstate 45 and Interstate 35).
    • 152,353 to 239,507 residents with average household incomes of $101,037 and $109,662 within a three and five mile radius.
    • 72,467 SF multi-tenant industrial covered land play with an additional 2.31 AC of IOS land / outside storage (call for details).
    • 38 unit / 48,484 SF stabilized multi-family asset (call for details).
    • 35 AC of residential / multi-family land ready for immediate development (additional 4 lots may be available).
    • Vacant 27,295 SF industrial building on 3.25 AC of land ready for immediate redevelopment or industrial use.
    • Two (2) residential lots totaling 0.29 AC.
    • Portfolio boasts significant revenue through parking revenue during Fair Park and other events held at the Fair Park grounds.

    Description

    Davidson & Bogel Real Estate LLC, as exclusive advisor, is pleased to present to qualified investors the once-in-a-generation opportunity to purchase the Hall Family’s “Core Opp Zone Portfolio” (the “Offering”), located in the heart of Dallas’s urban core, adjacent to the historic Fair Park grounds. Totaling 11.47 AC and owned by a single owner, the Portfolio is the largest compilation of infill assets within Dallas’s coveted urban core in the market today. The Offering provides new Ownership a level of scale not often seen, as well as, the rare ability to acquire a blend of cash-flowing and covered properties, in addition to land sites ready for immediate development. Consisting of 149,926 square feet of improvements and 8.21 acres of land, new Ownership will enjoy a terrific revenue stream with upside potential from the Offering’s various income producing components, most notably the parking revenue, 72,467 SF industrial building and the 3221 Flats Apartments – a 38-unit multi-family asset built in 2016. Furthermore, with over 8.21 AC of land for immediate development at Purchaser’s disposal, the Offering is not only ideal for developers and commercial investors of all product types, but perfect for existing and new Opportunity Zone tax-credit investors.

    Due to its strategic infill location, proximity to major employment hubs and traffic generators, the Offering is uniquely positioned to take advantage of everything the rapidly expanding and gentrifying Fair Park market has to offer. Each Property enjoys ease of access to I-30, I-45 and Central Expressway, connecting the entire Portfolio to Downtown Dallas and all other markets within the DFW Metroplex. With a vast majority of the Offering being covered by a diversified revenue stream (without long-term leases encumbering the land), new Ownership benefits from an increased level of flexibility in maximizing future development plans and taking full advantage of the Offering’s infill positioning within a high-growth / high-barrier Opportunity Zone market. Most importantly, with the city’s approval of the new $85+ million Fair Park Master Plan and the continued investment from public and private partnerships / investors, the economic engine of the Fair Park area will continue to churn for years to come.

    Location

    11.47 AC – Core Opp Zone Portfolio – Dallas, Texas

    725 3rd Avenue, Dallas, Dallas County, Texas 75226

    11.47 AC – Core Opp Zone Portfolio – Dallas, Texas

    Contact Us About this Property

    Cameron Deptula

    INVESTMENT SALES
    TREC #622382

    214.526.3626 ext. 116
    CDeptula@DB2RE.com