Investment Highlights
Photo Gallery
Asset Profile
OCCUPANCY
80.6%
SQUARE FEET
±186,247
investment oPPORTUNITY
CORE-PLUS
leed certified gold
UPDATED
parking ratio
6.0/1,000
Contact Us
View Brochure Confidentiality Agreement
Property Video The Opportunity Investment Highlights Asset Profile Photo Gallery AREA SNAPSHOT Contact Us
APEX
3033 W. PRESIDENT GEORGE BUSH HIGHWAY
PLANO, TEXAS
This has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2020. All rights reserved.
Why Colliers?
Where do you want to go?
Hear from your colleagues
How do you want to get there?
How can we help?
EXECUTIVE SUMMARY
Contact Us
This has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2020. All rights reserved.
Madeleine Aufricht
214 706 6045
madeleine.aufricht@colliers.com
214 706 6048
johanna.ramirez@colliers.com
415 288 7840
jeremy.thornton@colliers.com
214 706 6047
cl.boyd@colliers.com
214 706 6029
creighton.stark@colliers.com
Johanna Ramirez
JEREMY THORNTON
Chris Boyd
Creighton Stark
EXCLUSIVE MARKETING ADVISORS
ACQUISITION FINANCING ADVISOR
SHARE ON:
http://www.mailto.co.uk/
to add multiple recipients to the share email link
https://mwdagency.com/socialshare/
to make other social links
MAKE SURE TO CHECK EMAIL INTERACTIONS TO UPDATE SUBJECT LINES
THE OPPORTUNITY
Colliers International is pleased to exclusively offer to qualified investors the opportunity to purchase 3033 W President George Bush Highway (“APEX”), an approximate 186,247 square foot, Class A, multi-tenant, three-story office building located along the 190 STEM Corridor in Plano, Texas.
Built in 2008, the APEX was the first LEED certified building built in Plano with 20% of the building made from recycled materials, awarded LEED certification at the Gold Standard in 2009. Completely renovated and repositioned in 2019, this premier office destination offers best in class amenities, including a state-of-the-art fitness center, tenant lounge, café, conference and training center, along with prominent lobby stairways and multiple points of entry. With 80.6% occupancy, a 7.5 year WALT and strong corporate credit STEM tenancy, Apex is poised for a core-plus business plan.
The approximate15.98-acre site sits with direct access to President George Bush Turnpike (Highway 161 / 190), providing an unparalleled convenience and visibility factor with approximately 140,000 vehicles passing per day. This prime location provides walkability to public transportation (DART), the amenity rich Independence and Plano Parkways, as well as proximity to Downtown Dallas and both commercial airports (DFW – American Airlines headquarters and Love Field – Southwest Airlines headquarters).
Institutional Quality
Secure Investment
Core-Plus
Highly Visible
Strong Base
Leasing Momentum
adjacent developable
4 ACRES
7.5 YEAR
RENOVATION
2019
TENANTS
CREDIT- WORTHY
DUAL FIBER-OPTIC FEEDS
WIRED CERTIFIED
QUALITY
INSTITUTIONAL
Close proximity to exclusive residential areas and Dallas’ prominent country clubs
214 706 6046
mark.meador@colliers.com
Mark Meador
Area Snapshot
View Brochure
cONFIDENTIALITY
agreement
View Brochure
cONFIDENTIALITY agreement
Asset Profile
Photo Gallery
Mark Meador
214 706 6046
mark.meador@colliers.com
STATE-OF-THE-ART FITNESS CENTER
BUILDING AMENITIES
Strategic Office
Innovation Quarter
Superior Access
Institutional-Quality, Class A, Multi-Tenant Office: Mid-rise 3-story LEED-certified office investment located in the heart of the 190 STEM Corridor where limited inventory provides investors a generational opportunity to acquire a recession-resilient, institutional-quality asset in a suburban, infill submarket within the Greater DFW market.
PROPERTY VIDEO
PRESTON PARALLEL
UPDATED TENANT LOUNGE AND CAFE
BEST-IN-CLASS CONFERENCE AND TRAINING
CENTER
EFFICIENT FLOORPLATES WITH 10’ CEILINGS
Colliers International is pleased to exclusively offer to qualified investors the opportunity to purchase Preston Park located at 1800 and 1820 Preston Park Boulevard in Plano, Texas. The property is comprised of two Class A multi-tenant office buildings comprising approximately 198,788 square feet.
Originally completed in 1997, Preston Park features newly renovated lobbies, common areas, tenant lounges, and tenant conference centers. In addition to these attributes, the combined 12-acre site is located with convenient accessibility to Preston Road, Dallas North Tollway, George Bush Turnpike, and Central Expressway. This prime location provides walkability to the amenity rich Preston Park Village and Park Boulevard with premier restaurant and retail options, fitness centers, and child care, as well as close proximity to Legacy West, CityLine and both commercial airports (DFW – American Airlines headquarters and Love-Field – Southwest Airlines headquarters).
Plano’s growth continues to be exponential, with visionary companies quickly discovering Plano is the best address for their success. Many Fortune 1000 companies have relocated to Plano for their North American headquarters, including Toyota, Cinemark Theatres, Frito Lay, Dr. Pepper, and Liberty Mutual. With the $2 Billion mixed-use Legacy West development, Plano has become the all-encompassing corporate hub of Dallas.
ARAPAHO DART RAIL STATION
ACROSS FROM
CENTER FOR
ENTREPRENEURSHIP & COLLABORATION
PREMIER
TECH HUB
OVER 50%
OF RICHARDSON BUSINESS
BRAND NEW
NAME, LOGO & ZONING CODE
2020 REBRAND
OF RICHARDSON IQ
OVER 1,000
BUSINESSES
1,200
ACRE AREA
1,900
PEOPLE EMPLOYED
WALKABILITY
LIVE/WORK/PLAY
NEWLY
RENOVATED TENANT LOUNGE & CONFERENCE CENTER
Asset Profile
Preston Parallel
Strong Cash Flow
THE OPPORTUNITY
FITNESS CENTER & TENANT LOUNGE
NEW
WALKABILITY
AMENITIES
OVER 45 RESTAURANTS WITHIN 1 MILE
PROPERTY VIDEO
PRESTON PARALLEL VIDEO
ARAPAHO DART RAIL STATION
ACROSS FROM
CENTER FOR
ENTREPRENEURSHIP & COLLABORATION
PREMIER
TECH HUB
OVER 50%
OF RICHARDSON BUSINESS
CONTAINS
BRAND NEW
NAME, LOGO & ZONING CODE
2020 REBRAND
OF RICHARDSON IQ
OVER 1,000
BUSINESSES
1,200
ACRE AREA
1,900
PEOPLE EMPLOYED
INNOVATION QUARTER COMPANIES WITH OFFICES/LOCATIONS
DUAL FIBER OPTICS FEED, WIRED CERTIFIED
UP TO 6.0 / 1,000 PARKING RATIO
LEED CERTIFIED GOLD
190 STEM Corridor
High Profile Asset
Gold Leed Certified
INSTITUTIONAL-QUALITY, CLASS A, MULTI-TENANT OFFICE CAMPUS:
Mid-rise 3-story LEED-certified office investment located in the heart of the 190 STEM Corridor where limited inventory provides investors a generational opportunity to acquire a recession-resilient, institutional-quality asset in a suburban, infill submarket within the Greater DFW market.
INSTITUTIONAL-QUALITY, CLASS A, MULTI-TENANT OFFICE CAMPUS:
Currently 80.6% occupied with a strong mix of global and national investment-grade credit tenants, the Property offers investors the immediate opportunity to significantly enhance value through lease-up of existing space in a secure campus-like atmosphere while benefiting from strong in-place / recession resilient cash flow and current cash yields.
SECURE INVESTMENT GRADE CASH FLOW:
Limited annual lease roll-over exposure (no roll-over at the Property over the next 5-years), with WALT of 7.5 years with global, credit-worthy stem industries to 80.6% of the Property bolstering downside protection while providing significant runway for income improvement through the lease-up of the remaining 36,000 SF of vacancy and/or through the development of the adjacent 4 +/- acres for additional parking or other uses, currently zoned Light Industrial 1.
CORE-PLUS OFFERING WITH SIGNIFICANT VALUE CREATION OPPORTUNITIES:
The Property is 80.6% occupied to 3 investment-grade tenants with no single tenant comprising more than 36% of the total rentable square feet, thereby allowing new ownership to benefit from stable credit, durable cash flow and reduced rollover risk. The 7.5 weighted average in-place lease term that is secure over the long-term provides an attractive, inflation-protected income stream and validates proforma lease-up assumptions.
STRONG BASE OF INVESTMENT GRADE TENANTS WITHIN A DIVERSIFIED RENT ROLL:
Since 2019, current ownership leased nearly 150,000 square feet of new space within the Property. The tremendous leasing activity continues to outpace the submarket, clearly demonstrating the Property’s competitive position as one of the most desirable assets in the Plano/Richardson submarket. In addition, a significant value opportunity exists based on projected market rents and leasing the remaining vacant suites, due to scarcity of quality, Class A space in the historically tight submarket. No new competitive office product is planned or under construction in the submarket.
SIGNIFICANT RECENT LEASING MOMENTUM:
The Property is well-positioned within DFW’s prominent 190 STEM corridor and is one of the most-accessible and visible office buildings in the submarket within Greater DFW. The Property is located strategically off of President George Bush (190) Highway, which has an average of 300,000 vehicles per day. In addition, the Property is equidistant to Dallas North Tollway and US 75/Central Expressway anchored by Plano and Richardson, respectively, providing tenants convenient access to a deep employee base. With over 185,000 square feet of direct freeway frontage and visibility, the Property has outstanding building signage opportunities. In addition, much of the Property’s vacancy is concentrated on the west side near the building’s central core with easy access to building amenities thereby making the Property’s vacancy extremely valuable.
HIGHLY VISIBLE INFILL LOCATION WITHIN #4 MSA IN THE UNITED STATES:
Located along the George Bush Highway (190 STEM Corridor), Apex provides convenient access to
executive and workforce housing with nearby amenities. The Property’s open air concept with high parking ratio, multiple points of ingress/egress, as well as stairwell and elevator options provides ultimate flexibility and accessibility in a post-COVID environment. The Property is located within Collin County, the fastest growing and wealthiest county with the highest household and per capita income
in the state of Texas. As DFW continues to expand north, the submarket’s quality, and well-located commercial properties are ideally positioned to meet near-term and long-term tenant demand.
STRATEGIC SUBURBAN INFILL OFFICE SETTING:
Located equidistant and within 10 minutes, are Legacy and Cityline shopping hubs, providing numerous dining and retail options. Immediately south of The Property is The University of Texas at Dallas, an academic institution providing talented STEM labor to the North Texas region as well as abundant single-family and multi-family housing options experiencing steady value appreciation. The Property provides regional and national tenants the opportunity to locate in a high-image office complex that is well-situated with an attractive parking ratio (post-expansion approximately 6 per 1,000 square feet, as outlined in further detail herein), numerous amenities within close proximity, and visibility and immediate access to greater Dallas, including DFW Airport, Dallas Love Field Airport and the Dallas CBD, which are all less than 25 minutes away.
SUPERIOR AND IRREPLACEABLE ACCESS TO RETAIL, ACADEMICS, ENTERTAINMENT AND HOUSING:
Located equidistant to two major intersections of US 75 and President George Bush Tollway and Dallas North Tollway and President George Bush Tollway, this brings easy access to the Property from surrounding communities, including Plano, Allen, Richardson, McKinney and Garland. The submarket is selected by many blue-chip corporate tenants for its exceptional regional access, convenience to a well-educated, abundant workforce and proximity to other high-quality companies. The submarket is intersected by the George Bush Turnpike (190 STEM Corridor), which provides direct access to DFW International Airport, Las Colinas and Dallas North Tollway as well as the extension of the DART Light Rail System through Plano and Richardson and throughout the Dallas area and DFW Airport.
PREMIER OFFICE ASSET CENTRALLY LOCATED IN BURGEONING CORE OF 190 STEM CORRIDOR:
The Property is within the DFW MSA, which is the 4th largest MSA in the United States with a population of 7.1 million and ranks as the 2nd fastest growing metro in the United States in terms of population and 1st for projected job growth through 2021 (329,532 jobs estimated over the next five years). With a GMP of $512 billion, DFW has the 4th largest metropolitan economy in the U.S. and 23rd largest in the world. The Property is situated directly on the George Bush Highway offering the best visibility amongst the competitive set with 250,000 vehicles daily. The Property is located in a suburban-infill location and is well-positioned with strong access to key transportation nodes, employment neighborhoods and a deep amenity base nearby for tenants.
HIGH-PROFILE ASSET SITUATED IN DYNAMIC
DFW SUB-MARKET:
Limited or no near-term capital improvement needs allow a new owner to focus on marketing and lease-up of 36,000 SF while preserving cash.
GOLD LEED CERTIFIED HIGH-QUALITY OFFICE ASSET WITH RCENTLY ADDED AMENITIES AND CAPITAL IMPROVEMENT ENHANCEMENTS:
up to
WALT
STRONG CORPORATE
property video
STATE-OF-THE-ART FITNESS CENTER
UPDATED TENANT LOUNGE AND CAFE
BEST-IN-CLASS CONFERENCE AND TRAINING
CENTER
EFFICIENT FLOORPLATES WITH 10’ CEILINGS
PARKING RATIO
STRONG CORPORATE
Institutional-Quality, Class A, Multi-Tenant Office: Mid-rise 3-story LEED-certified office investment located in the heart of the 190 STEM Corridor where limited inventory provides investors a generational opportunity to acquire a recession-resilient, institutional-quality asset in a suburban, infill submarket within the Greater DFW market.
Secure Investment Grade Cash Flow: Currently 80.6% occupied with a strong mix of global and national investment-grade credit tenants, the Property offers investors the immediate opportunity to significantly enhance value through lease-up of existing space in a secure campus-like atmosphere while benefiting from strong in-place / recession resilient cash flow and current cash yields.
Core-Plus Offering with Significant Value Creation Opportunities: Limited annual lease roll-over exposure (no roll-over at the Property over the next 5-years), with WALT of 7.5 years with global, credit-worthy stem industries to 80.6% of the Property bolstering downside protection while providing significant runway for income improvement through the lease-up of the remaining 36,000 SF of vacancy and/or through the development of the adjacent 4 +/- acres for additional parking or other uses, currently zoned Light Industrial 1.
Strong Base of Investment Grade Tenants within a Diversified Rent Roll: The Property is 80.6% occupied to 3 investment-grade tenants with no single tenant comprising more than 36% of the total rentable square feet, thereby allowing new ownership to benefit from stable credit, durable cash flow and reduced rollover risk. The 7.5 weighted average in-place lease term that is secure over the long-term provides an attractive, inflation-protected income stream and validates proforma lease-up assumptions.
Significant Recent Leasing Momentum: Since 2019, current ownership leased nearly 150,000 square feet of new space within the Property. The tremendous leasing activity continues to outpace the submarket, clearly demonstrating the Property’s competitive position as one of the most desirable assets in the Plano/Richardson submarket.
Highly Visible Infill Location within #4 MSA in the United States: The Property is well-positioned within DFW’s prominent 190 STEM corridor and is one of the most-accessible and visible office buildings in the sub-market within Greater DFW. The Property is located strategically off of President George Bush (190) Highway, which has an average of 300,000 vehicles per day.
Strategic Suburban Infill Office Setting: Located along the George Bush Highway (190 STEM Corridor), Apex provides convenient access to executive and workforce housing with nearby amenities. The Property’s open air
concept with high parking ratio, multiple points of ingress/egress, as well as stairwell and elevator options provides ultimate flexibility and accessibility in a
post-Covid environment.
Superior and Irreplaceable Access to Retail, Academics, Entertainment and Housing: Located equidistant and within 10 minutes, are Legacy and Cityline shopping hubs, providing numerous dining and retail options. Immediately south of The Property is The University of Texas at Dallas, an academic institution providing talented STEM labor to the North Texas region as well as abundant single-family and multi-family housing options experiencing steady value appreciation.
Premier Office Asset Centrally Located in Burgeoning Core of 190 STEM Corridor: Located equidistant to two major intersections of US 75 and President George Bush Tollway and Dallas North Tollway and President George Bush Tollway, this brings easy access to the Property from surrounding communities, including Plano, Allen, Richardson, McKinney and Garland.
190 Stem Corridor
High-Profile Asset Situated in Dynamic DFW Sub-Market: The Property is within the DFW MSA, which is the 4th largest MSA in the United States with a population of 7.1 million and ranks as the 2nd
fastest growing metro in the United States in terms of
population and 1st for projected job growth through 2021 (329,532 jobs estimated over the next five years).
190 Stem Corridor
Gold LEED Certified High-Quality Office Asset with Recently Added Amenities and Capital Improvement Enhancements: Limited or no near-term capital improvement needs allow a new owner to focus on marketing and lease-up of 36,000 SF while preserving cash.
190 Stem Corridor
BEST-IN-CLASS ASSET | PRIME 190 STEM CORRIDOR LOCATION
SECURE INVESTMENT-GRADE TENANCY | 80.6% LEASED | 7.5 YEARS WALT
CORE-PLUS LEASE-UP OPPORTUNITIES | STRATEGIC SUBURBAN INFILL OFFICE CAMPUS SETTING
1800 & 1820 PRESTON PARK BlvD
PLANO, Tx 75093
1800 & 1820 PRESTON PARK BlvD
PLANO, Tx 75093
Property Video
THE OPPORTUNITY