WALNUT HILL BUSINESS PARK II (IRVING, TX)

MULTI TENANT

1600 CORPORATE COURT, IRVING, TX 75038
Price :
$ 4,850,000
Cap Rate :
8.63%
NOI :
$ 418,758
Lot Size :
2.00 acres
Year Built :
1982
Property Area :
28,339 sqft
Status :
UNDER CONTRACT
MARKETING PACKAGE

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

Investment Highlights

• 28,339-Square Foot Fully Leased Flex Property Located in Las Colinas and 10 minutes from DFW International Airport
• Well-Maintained Brick Construction with Attractive Street Appeal
• Roof Replaced in 2019: TPO Roof with ISO efficiency standards with R30 rated roofing system (5” of ISO Foam) – Over $400K Spent By Current Owner
• Suites 100, 140 and 150 Completed Gutted and Newly Renovated in 2017, 2018 and 2012: Over $1MM in Tenant Build-Out Improvements Made Since 2012

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the Walnut Hill Business Park II property located at 1600 Corporate Court in Irving, Texas, leased to The Vertex Companies, Inc., Curion LLC, and MATsolutions. The subject flex property consists of approximately 28,339 square feet of space and is situated on two acres of land. The subject property features well-maintained brick construction with attractive street appeal. Seller reports a new TPO roof in 2019 and HVAC units installed between 2012 and 2018. The Walnut Hill Business Park II is located in Las Colinas and is 10 minutes from Dallas/Fort Worth International Airport.

As the 13th largest city in the state, Irving has seen increased population growth of 12.9 percent over the past decade and is predicted to reach 320,000 by 2040 (cityofirving.org). Irving is home to seven Fortune 500 headquarters and is focused on continuing work on The Irving Economic Development Strategic Plan to go through 2022. The city of Irving is also home to the Toyota Music Factory, the Ruth Paine House Museum, and The Mustangs of Las Colinas Museum. Access to public transportation includes DART Bus Routes, DART Rail Orange Line, Las Colinas APT, and the Trinity Railway Express.

The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.1 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 800,000 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 metros 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 21 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, ensure 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. © 2019 Marcus & Millichap. All rights reserved. (Activity ID: Z0060819)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916

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