dallas, texas offering summary
TRANSCRIPT
D A L L A S , T E X A S
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp a Texas licensed real estate broker (“HFF”).
O F F E R I N G S U M M A R Y
HFF is pleased to extend to qualified investors the opportunity to acquire Turtle Creek Village (the “Property”),
an irreplaceable, mixed-use property encompassing approximately 322,000 square feet. Originally built in the
early 1970s and the recipient of a recent, high-profile renovation, Turtle Creek Village is a 9-acre, mixed-
use development consisting of an 18-story, Class A office tower along with 95,000 square feet of
retail anchored by Tom Thumb. Situated in the heart of Dallas’ Uptown / Turtle Creek submarket,
the Property’s prime, infill location, surrounding amenities, exceptional visibility, and easy
access combine to create a best-in-class, mixed-use development. These characteristics,
coupled with its location in one of the most dynamic and diverse economies in the
United States, makes this offering a unique and scarce opportunity to acquire a
trophy caliber development. If preferable, ownership has the flexibility to
offer retail and office components on an independent basis.
I N V E S T M E N T O V E R V I E W
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P R O P E R T Y O V E R V I E W
COMPONENT BREAKDOWNComponent SF % of Total GLA % of Yr. 1 NOIOffice 227,258 71% 49%Retail 94,720 29% 51%Total 321,978 100% 100%
PARKING SUMMARYRetail ParkingRetail Surface Parking 330Retail Garage Parking 172Total Retail Parking 502Retail Parking Ratio 5.30 / 1,000 SFOffice ParkingSubterranean Garage 643Office Parking Ratio 2.83 / 1,000 SF
ADDRESS3838 Oak Lawn AveDallas, TX 75219
SITE SIZE8.97 acres
YEAR BUILT/RENOVATEDOffice 1973 / 2014Retail 1972 / 2015
OCCUPANCYOffice 93%Retail 92%Total 93%
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WALK SCORE
90TCV
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PERMANENCYTrue infill location within Dallas’ best submarket WALKABILITY90 walk score
UPTOWNDalllas’ most affluent urban core
CONVENIENCEMost accessible, true mixed-use development in Uptown enhanced with grocery anchor, Tom Thumb
PROXIMITY2 minute drive from Highland Park and a 5 minute drive from Downtown Dallas
CORE PROFILEMulti-generational investment opportunity
C O R E L O C A T I O N
WALKABILITY
Neighborhood City Walk Score
Lower East Side New York 95
SoDo/Pioneer Square Seattle 95
The Loop Chicago 93
Laurel Heights/Jordan Park San Francisco 92
Capitol Hill Seattle 91
Turtle Creek Village Dallas 90
West Town Chicago 90
Bernal Heights San Francisco 87
Mission Hill Boston 87
Allston Boston 83
Atlantic Station Atlanta 77
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HIGHESTMEDIAN HOME VALUES
TRADE AREA BOASTSPRIME CONSUMER
DAYTIME EMPLOYEESwithin the immediate trade area
MULTI-FAMILY UNITSIntown &Oaklawn/Park Cities Submarket
43K growth in Multi-Family (13,500 units) within the immediate trade area
30%
65K
Average Household Income
200KPOPULATION
MILESWITHIN 3
$175KSOME OF THE
IN ALL OF DFW
37AVERAGE AGE
M A R K E T L E A D I N G D E M O G R A P H I C S
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KATY TRAIL
KATY TRAIL
DEEP ELLUM ARTSDISTRICT
UPTOWN
WEST VILLAGE
Lemmon Ave
Lemmon Ave
DOWNTOWNDALLAS
VICTORYPARK
Oak Lawn Ave
Oak Lawn Ave
Oak Lawn AveOak Lawn Ave
Blackburn St
Blackburn St
Turt
le C
reek
Blv
d
Turt
le C
reek
Blv
d TRAFFIC COUNTBlackburn & Oak Lawn
41,780 VPD
MIXED-USE• True grocery anchored mixed-use asset in the heart of
Uptown / Turtle Creek
• Superior visibility and traffic counts along Oak Lawn Avenue, one of Uptown’s busiest thoroughfares
• One of seven high-end grocery locations servicing a population of 200,00 within the immediate trade area
P O S I T I O N W I T H I N T H E U P T O W N M A R K E T
Uptown boasts the highest rental rates in Dallas / Fort Worth.
The current office rental rate is 14% below the competitive set’s average market rate.
Uptown boasts the 2nd highest rental rate in DFW and an occupancy of 97%.
The retail is currently over 90% occupied and still has room to increase rental rates to
match the competitive set.
• Restaurant and retail hub centered with a convenient Tom Thumb grocer along Oak Lawn Avenue
• Abundant underground and surface parking in a parking constrained submarket
Office Retail
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KATY TRAIL
KATY TRAIL
DEEP ELLUM ARTSDISTRICT
UPTOWN
WEST VILLAGE
Lemmon Ave
Lemmon Ave
DOWNTOWNDALLAS
VICTORYPARK
Oak Lawn Ave
Oak Lawn Ave
Oak Lawn AveOak Lawn Ave
Blackburn St
Blackburn St
Turt
le C
reek
Blv
d
Turt
le C
reek
Blv
d TRAFFIC COUNTBlackburn & Oak Lawn
41,780 VPD
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• Strong mark to market play upon lease expirations, significantly increasing rental revenue
• Advantageous in-place zoning allowing for substantial FAR
• Nine irreplaceable acres in the heart of Uptown at an attractive cost basis relative to the site acreage
U P S I D E O P P O R T U N I T Y
Summary Of Entitlements
Current Utilized Square Footage
Additional Development
Upside
Retail/Personal Services 238,000 SF + 94,797 SF 143,203 SF
Office 543,000 SF + 227,258 SF 315,742 SF
Residential 700,000 SF +
(444 Units)0 SF
(0 Units)700,000 SF (444 Units)
Total 1,480,000 SF 322,055 SF 1,158,945 SF
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D A L L A SO V E R V I E W
One of the most diverse economies in the
United States
4.1% unemployment rate; added nearly
122,300 jobs year over year September 2016
8th largest millennial population in the
United States
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From 2016 - 2019, DFW is expected to rank first in
population and job growth, according to Moody’s
ULI’s Emerging Trends top market to watch in 2016;
#2 Emerging Trends market to watch for 2017
National leader in office absorption with over
10.8 million square feet absorbed since 2015
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A D D I T I O N A LI N F O R M A T I O N
If you have any questions or require additional information, please contact the individuals below.
OFFICE RETAIL
ANDREW LEVY Senior Managing Director [email protected] • 469.232.1961
BARRY BROWN Senior Managing Director [email protected] • 469.232.1968
TODD SAVAGE Managing Director [email protected] • 469.232.1930
JIM BATJER Senior Managing Director [email protected] • 469.232.1970
ELIZABETH MALONE Director [email protected] • 469.232.1964
RYAN SHORE Managing [email protected] • 469.232.1919
CHRIS MURPHY Associate [email protected] • 469.232.1941
ANALYTICAL SUPPORT
PARKER MCCORMACK Senior [email protected] • 469.232.1952
ACQUISITION DEBT INFORMATION
JOHN BROWNLEE Senior Managing Director [email protected] • 469.232.1935
SARAH BETH DAVIS Analyst [email protected] • 469.232.1902
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©2016 Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing.
Holliday Fenoglio Fowler, L.P. (“HFF”) has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.