432-934-6973
12377 Merit Dr, Dallas, TX for Sale
Office - FOR SALE
1/50
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12377 Merit Dr
Dallas, TX 75251
North Dallas


HIGHLIGHTS

  • Market leading, Class A asset
  • Submarket leading leasing performance
  • Recent transformative renovation
  • Compelling basis in a rising Class A environment
  • Credit worthy rent roll with measured rollover profile and mark to market opportunity

OVERVIEW

JLL, as exclusive advisor, is pleased to present the opportunity to acquire Lakeside Square (the “Asset” or “Property”), a 410,713 RSF, recently renovated Class A office complex located at 12377 Merit Drive in Dallas, Texas. Situated near the corner of NCX and LBJ FWY, Lakeside Square is the premier building in the Park Central submarket. Coming off of a $9M renovation, the Property has led the submarket with over 230,000 RSF of leases signed over the past 3 years with 43.5% rent growth during that period. The Asset is 86% leased to an impressive array of high credit tenants spanning energy, insurance, healthcare, media, legal, and professional services. Anchor tenants include Aethon Energy, CRC Insurance Group, Audacy Texas, EXCO Resources, and Blue Cross and Blue Shield. No single tenant exceeds 18% of the building’s rentable area, providing a well-diversified income base with a weighted average lease term of approximately 5.3 years. Driven by the strong fundamentals at both the Asset and the Class A Dallas office market, in-place rents are 14% below market, allowing new ownership to drive NOI growth. Lakeside Square occupies a distinctive position in the Dallas market stratification as a Tier 2, re-imagined product that outperforms its submarket peers. The offering is a unique opportunity to acquire a class A asset at a compelling basis relative to similar product in Preston Center, the Lower Tollway, and NCX.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lakeside Square

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

18

BUILDING CLASS

A

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

1255

LAND DETAILS

LAND ACRES

4.87 AC

LAND SF

212,137 SF

ZONING

Z248

APN/PARCEL ID

0077350A000020100

ASK ABOUT THIS PROPERTY

Macki McKimJLLMore Info
432-934-6973

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Macki McKimJLLMore Info
432-934-6973

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.