Lake Highlands Tower | Sale

Younger Partners, as exclusive advisor, is pleased to present Lake Highlands Tower (“LHT”) a 15-story, 330,000 square-foot, Class A office tower located on heavily traveled LBJ Freeway (IH-635). One of the most prominent figures in the area, the building is characterized by tenant attraction, growth and retention. LHT offers a full suite of amenities demanded by modern office tenants and has been completely renovated and repositioned with a state of-the-art fitness center, cafe, conference and training center, along with a prominent lobby.

The Property offers current yield at 76% occupancy and the opportunity to realize the continued lease-up of the remaining vacancies that are sized to appeal to the broadest segment of the market’s tenancy. The building’s 5+ year WALT is anchored by credit tenancy from diverse industry sectors. Benefitted by access to a vast pool of area amenities, existing and potential tenants enjoy a superior workplace experience that helps attract and retain the market’s top talent.

Lake Highlands Tower is a landmark that appeals to office tenants seeking efficient space and cost savings in comparison to the higher priced areas that surround it. The vibrant location offers investors access to an infill submarket centrally positioned close to communities with outstanding demographics. A revitalization of the asset has produced higher occupancy and rents. Average new and renewal lease rate have grown substantially and create a dynamic opportunity for mark-to-market renewals. Recent leasing has proven the market at more than $18/sf Plus Electric while average in-place rates sit at $17.83/sf and overall submarket average is $19.42/sf.

Profiling as a value-add investment with tremendous upside, the underlying 8 acre site presents a rare long-term redevelopment opportunity in one of Dallas’ most desirable residential corridors. Zoned MU-3, Lake Highlands Tower offers a unique combination of current income, institutional quality, and future optionality.

Available at a fraction to replacement cost, LHT offers investors a competitive acquisition basis that should afford a strong market position relative to the area competitive set.