Contacts
Tom Strohbehn
Younger Partners
(214) 507-2355
Scot Farber
Younger Partners
(214) 294-4438
Property Details
- Property Type Office
- Property Size 90,980 SF
- Date Updated Apr 25, 2024
- Website youngerpartners12554.sharplaunch.com
to acquire 3200 Broadway (the “Property”), a privately owned and maintained
office buildings in Garland, TX. The Property offers 90,980 square
feet of highly efficient, small tenant office space that is 60% leased to a diverse
range of tenants. Strong in-place cash flow with a staggered rollover
schedule allows for the next investor to continue common area improvements
and push leasing activity at rising lease rates.
Anchored by JP Morgan Chase, the bank is a long-term tenant in the building
and has committed through the end of the decade. Leased to a diverse rent
roll, the building is primarily designed for small and mid-size spaces. The remaining
vacancy is comprised of well designed suites that would greatly benefit
from a building standard “spec suite” leasing program. Spec suite
construction could contribute greatly to the building’s leasing velocity and
capitalize on the rising DFW market and a reinvigorated ownership group.
Surrounded by rooftops, 3200 Broadway is ideally positioned to service the
neighborhood community. Located near the intersection of Broadway
Boulevard and Centerville Road, 3200 Broadway is the most recognizable
and accessible office building in the area. Available at a sizeable discount to
replacement cost and an attractively low-cost basis, future ownership can
invest reasonable cosmetic capital to bring fresh vibrancy to propel market
leasing momentum.
Want more info on this listing?
Reach out to the broker for more info on lease terms and amenities
Highlights
- Immediate upside - 36,000 SF available for lease up
- Opportunity for an owner occupant
- Amenity rich suburban environment
- Dynamic location amongst outstanding demographic area
- Variety of space options and strong in-place cash flow from established tenants
- Small floor plates
- Outstanding access to area transportation networks
- Long run optionality of 5.2 acres
- Benefited by Dallas / Fort Worth's status as a top U.S. marketplace with a diversified economy, nation leading population and job growth
- Discount to replacement cost of approximately $400/SF
Getting around
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Location
- City Garland, Texas
- Neighborhood Club Hill Estates
- Zip Code 75043
- Market Dallas Fort Worth
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.