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Alliance Commerce Center – 2301 Eagle Pkwy, Fort Worth, TX 76117

2301 Eagle Parkway, Fort Worth, Denton County, Texas 76117

Price:  $14,000,000


NOI:  $1,079,981


Cap Rate:  7.71%


Building Size:  73,747 SF


Lot Size:  5.00 AC / 217,800 SF


Debt:  Free & Clear - Seller-finance available/considered


View Offering Memorandum

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Highlights

STABLE CASH-FLOW WITH TREMENDOUS VALUE-ADD POTENTIAL
Currently 90.30% occupied, Alliance Commerce Center is perfect for investors seeking Class A office opportunities below replacement cost. In the last 24 months, ownership has completed four (4) new leases and/or expansions on 67.17% of the Property. 83.46% of the Property expires in September 2027 or later. Today, the WALT is an advantageous 4.13 years, providing new ownership a perfect blend of stability and future upside.

RENT ESCALATIONS & FMV RENEWAL OPTIONS
Each tenant boasts annual rent escalations through expiration, further enhancing NOI and value year over year. Furthermore, Allsup’s and ITS ConGlobal have one (1) five-year option at FMV, with Texoma Land Consultants and Textron having no renewal options. The annual increases, coupled with the mark-to-market flexibility upon each tenant’s expiration provides substantial upside in both the short and long-term.

LEASE-UP POTENTIAL & LIMITED CAPITAL IMPROVEMENTS
New Ownership has a rare opportunity to take advantage of the current stabilized revenue stream and realize the 7,157 SF of immediate upside potential. Additionally, the Property requires limited capital investment from new ownership. The lease-up potential and lack of major capital improvements further enhance a new owner’s value.

EFFICIENT CLASS A CONSTRUCTION
Constructed in 1998, Alliance Commerce Center was exceptionally designed and has been well maintained, thereby reducing an investor’s future capital exposure. The Property offers large, efficient floorplates, 10-foot ceiling heights, ample surface parking, extensive landscaping and an abundance of area amenities – all of which are in high demand among today’s corporate office users. Alliance Commerce Center is an architecturally distinct asset that features an attractive, contemporary exterior and a well-appointed lobby with timeless finishes of limestone floors with pecan veneer and limestone accents. The building’s spacious floorplates, which range from 35,210 to 37,560 square feet are ideal for users seeking efficiency.

DISCOUNT-TO-REPLACEMENT COST
This offering presents investors with a tremendous opportunity to purchase a quality value-add office asset with a dynamic AllianceTexas location, all at an attractive discount to-replacement cost.

ADVANTAGEOUS ON-SITE AMENITIES
On-site amenities at the Property include furnished lobby, outdoor seating area, atrium lobby, mailroom and vending area. The Property also includes a security system with card-key access for after-hours entry. Tenants also enjoy convenient access to the FedEx Sort Hub that offers one of the latest drop-off times in North Texas. Furthermore, Alliance Commerce Center benefits from Alliance’s high-tech infrastructure that features a local fiber ring with multiple providers.

SUPERIOR ACCESSIBILITY
AllianceTexas is served by several major thoroughfares including Interstate 35W, which bisects the submarket, Interstate 820, US Highways 287 and 377, and State Highways 114 and 170 (also known as Alliance Gateway Freeway). In particular, Alliance Commerce Center is just one-half mile west of I-35W, providing convenient access to other important centers of commerce such as the Fort Worth CBD and Las Colinas. Additionally, the DFW International Airport, the nation’s fourth-busiest airport, is located less than a 25-minute commute. Alliance is also home to the 1,200-acre Fort Worth Alliance Airport, the second-largest airport facility in North Texas and a key driver for many of the businesses in the market.

WORLD-CLASS ALLIANCETEXAS BUSINESS PARK
In 1988, Hillwood led a public-private partnership with the city of Fort Worth and the FAA to develop AllianceTexas, a world-class international business and logistics complex located along Interstate 35W approximately 15 miles north of downtown Fort Worth. With a total investment of more than $9.7 billion to date, AllianceTexas is a 26,000-acre master-planned, mixed-use community situated at the heart of one of the fastest growing areas in the nation. Importantly, the AllianceTexas business community enjoys several valuable advantages that include numerous tax exemptions, third-party logistics, educational resources at nearby colleges and employee recruitment services. Stemming from this strong commercial base are a variety of corporate campuses and headquarters, office complexes, tech and data centers, popular destination retail and entertainment venues, highly desirable residential communities and acclaimed public schools. In total, AllianceTexas is home to more than 55 million SF of development, 525 companies, 61,000 employees, 200 hotel rooms, more than 12,000 single-family homes, and 2,500 multi-housing units with additional units under construction. With an annual economic impact in excess of $7.31 billion, AllianceTexas has indirectly created more than 73,400 jobs and has an economic impact of $84 billion to the local economy since 1990.

FORT WORTH, TEXAS – FASTEST-GROWING CITY IN THE U.S.
As AllianceTexas matures into a world-class development, it continues to drive tremendous growth in one of the fastest-growing areas of the country’s most vibrant state. In fact, Fort Worth ranked as the fastest-growing large city (population over 500,000) in the entire U.S. for the past decade, now the 13th largest city in the U.S. From 2012 – 2017 Fort Worth was the 3rd fastest growing city in the nation, with much of that growth taking place in the north Fort Worth corridor around AllianceTexas. Fort Worth saw a 21.50% jump in the employed population base, coming in 3rd, whereas Dallas came in 20th. The business friendly environment and affordable quality of life continues to attract some of the worlds largest companies. Furthermore, the town of Westlake, which is also part of AllianceTexas, was recently identified by Forbes as the country’s most affluent neighborhood, with a median income of over $250,000.

COVETED ADDRESS
As one of Dallas/Fort Worth’s premier business parks, AllianceTexas provides companies with a prestigious business address and is highly regarded as an important, business friendly economic center that promotes a dynamic, growth-oriented corporate presence. AllianceTexas is, therefore, home to over 525 employees, of which 60 businesses that are ranked among the Fortune 500. Resident companies represent a diverse range of industries including aerospace, automotive, logistics / distribution, telecommunications, pharmaceuticals, data, life sciences and financial services, among others.

SURROUNDING AMENITIES
Alliance’s amenity base, which is first-class in scope and quality, plays a critical role among area businesses in their recruitment and retention of today’s most talented employees. The epicenter of Alliance’s superior offering of amenities is Alliance Town Center – the pedestrian-friendly, mixed-use centerpiece of AllianceTexas that capitalizes upon its location within one of the fastest growing areas in the nation. Located on the east side of Interstate 35W just five minutes south of Alliance Commerce Center, Alliance Town Center encompasses more than 1.4 million square feet of retail, bars, restaurants and boutique office space, all centered on a town square. Even closer is the Tanger Outlets and Presidio Crossing for all your shopping needs. The area also offers hiking and biking trails that employees and residents have direct access to.

Description

DB2RE INVESTMENT SALES as exclusive advisor, is pleased to present to qualified investors the acquisition opportunity of Alliance Commerce Center (the “Property”), a quality Class A office investment located in Fort Worth’s world-class, master-planned AllianceTexas development. Currently, the Property is 90.30% leased to Allsup’s, Textron (NYSE: TXT), Its Con Global and Texoma Land Consultants with one suite totaling 7,157 SF available for immediate lease-up. Located within the Alliance submarket, the Property boasts an unbeatable location is one of the most desired and tightest markets in the DFW Metroplex. Built in 1998, the asset is updated with all modern amenities and has been well maintained. Comprised of one, two-story office building totaling 73,747 square feet, the asset also benefits from an overall parking ratio of 4.0 per 1,000 (+/- 289 surface parking spaces).

Situated on a 5.0-acre site, Alliance Commerce Center is located adjacent to the Fort Worth Alliance Airport and just one-half mile west of Interstate 35W. The asset is strategically positioned within a 5 minutes drive to State Highway 114 and 170, as well as, 25 minutes from DFW International Airport, making it an ideal office location for both employees and employers. The asset’s proximity to major arteries and transportation hubs provide exceptional regional access. Surrounding Alliance Commerce Center is over 50 million SF of industrial, 4.4 million SF of high-end office and 1.4 million square feet of Class A retail and plentiful upscale living accommodations with over 2,500 units and nearly 12,000 single-family residences. Offered well below replacement cost, the Alliance Commerce Center offering presents investors a chance to enter the AllianceTexas market, as well as enjoy a significant stabilized revenue stream that is backed by an even stronger tenant base.

Location

2301 Eagle Parkway, Fort Worth, Texas 76117
Denton County

Alliance Commerce Center – 2301 Eagle Pkwy, Fort Worth, TX 76117

2301 Eagle Parkway, Fort Worth, Denton County, Texas 76117

Alliance Commerce Center – 2301 Eagle Pkwy, Fort Worth, TX 76117

Contact Us About this Property

Cameron Deptula

INVESTMENT SALES
TREC #622382

214.526.3626 ext. 116
CDeptula@DB2RE.com