Property Type: Industrial

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.

Younger Partners has been exclusively retained to offer qualified buyers the opportunity to acquire Metroplex Tech Center I (Property). Comprised of more than 105,000 square feet of specialized Class A flex industrial space, the Property is benefitted by ample parking, versatile loading capabilities, timeless architectural styling and first class tenant finishes. 100% leased to five tenants, the Property has established revenues and an weighted average lease term of more than 7 years. Offering dock-high loading and efficient, shallow-bay layouts, the building has attracted a dynamic range of tenants that have made long term lease commitments. The Property’s revenue is secured by five notable tenants: Amusement Source International (Private), KabaFusion (Private), Dandy Dental (Private), McKesson (NYSE – MCK) and Deluxe Corporation (NYSE – DLX). In-place lease rates are roughly $14.20/sf NNN with an average remaining lease terms of more than 7 years. In-place base rental revenues are forecast at more than $1,500,000 annually with contractual rate increases over the remaining terms.

Fully leased at below market rates, the staggered expiration schedule will provide an outstanding mark-to-market opportunity in a time when in-fill flex industrial space is at a premium due to scarcity of options. Additionally, the quality of the improvements and the associated tenant investment should create a sticky environment at renewal.

Built in 1999, Metroplex Tech Center I is tilt-up construction with a classic brick facade giving the building a timeless look and feel. Offering a versatile design, the building has an adaptable floor plate to meet the needs of a variety of uses given the shallow bay depths. Complimenting the professional appearance, the building has dock-high loading capabilities at the rear of the complex that can accommodate shipping and receiving and other light industrial needs. Home to an assortment of specialized tenant uses, the building’s finishes include technical medical, pharmacy, dental lab, production / processing, showroom and more.