Marcus & Millichap is pleased to present the opportunity to acquire the Frisco Flyers Volleyball Club located at 6300 Flyers Way in Frisco, Texas. The subject property contains a 50,000 square feet industrial asset situated on 4.79 acres of land. Delivered in 2018, the class A built-to-suit single-asset features tilt wall construction, a clear height of 30’, three-phase heavy power with 800 amps and 480 volts, and 206 parking spaces. Situated along the Dallas North Tollway in the Frisco/Colony industrial submarket, the asset can easily be converted into warehouse space. Over the last decade, Frisco emerged as the fastest-growing big city in the nation and quickly gained the reputation as “Sports City USA.” Frisco serves as the headquarters for professional franchises and leagues, including the Dallas Cowboys, Dallas Stars, FC Dallas, and the Professional Golf Association (PGA) of America. A variety of sports clubs and multiple major sporting venues are located within proximity of the subject property, highlighted by Toyota Stadium and Ford Center.
The subject property is leased by the Frisco Flyers Volleyball Club which runs through August 2032. The triple-net lease has a base rent of $18.30 per square foot with 3.0 percent annual rent escalations and can be renewed twice at fair market value for five years each term. Given that the property was designed and built specifically for the Frisco Flyers, the tenant has a high probability of renewing the lease. Established in 2008, the Frisco Flyers offers volleyball teams to boys and girls ranging from 10 to 18 years of age. Collectively, the Frisco Flyers Volleyball Club has brought home three national championships. Success on the court has helped the club experience a significant amount of growth in recent years, nearly doubling the number of teams from 30 in 2016 to 58. The club’s growth is due not only to successful management and Frisco’s increased population but also to the overall boom in the sport’s popularity. Volleyball is one of the fastest-growing sports in America with membership in USA Volleyball rising by nearly 10 percent in 2023 (Dail Bruin). During the volleyball offseason (June to October), the subject property continues to generate cash flow by utilizing the space as an events center and for pickleball play, accounting for approximately 10 percent of annual revenue.
The Dallas-Fort Worth metroplex is the fourth-most populous metro in the nation, with an aggregate of more than 7.7 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 919 thousand residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the region’s transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metro’s numerous corporations and growing industries. Dallas/Fort Worth’s population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 24 Fortune 500 companies and many regional headquarters, drawing workers and residents. The area’s extensive network of rail and highways, along with the International Inland Port of Dallas, ensures its status as a distribution hub.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2024 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0060639)
