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INVESTMENT OFFERING Multi-Tenant Office Building Located in Plano, TX
Janice Peters, CCIM | 214.389.3664 | [email protected] Rachel Boelter | 214.389.3668 | [email protected] The information contained herein was obtained from sources believed reliable; however, Hudson Peters Commercial, LLC, makes no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of these properties is submitted subject to errors, omissions, change of price or conditions prior to sale or lease or withdrawal without notice.
London Square—2301-2419 Coit Road, Plano, TX 75075
TABLE OF CONTENTS
Executive Summary Page 3-4 Investment Highlights Page 5 Site Plan Page 6 Map Page 7 Area Information Page 8-9 Upper Tollway/West Plano Office Market Page 10 DFW Market Page 11 Financial Analysis Page 12 Confidentiality Agreement Page 13 Information on Brokerage Services Page 14
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EXECUTIVE SUMMARY Hudson Peters Commercial is pleased to exclusively offer to qualified investors London Square, comprised of ten office buildings in Plano, TX.
The property is in the Upper Tollway/West Plano Submarket. London Square is garden style and has a tenancy mix of office and medical.
Proximity to the Legacy/Frisco submarket positions this asset value in a preferred market with the ability to increase rental rates in the future.
The offering of this asset provides an in place cash flow with below market rental rates. Electricity is included in the base year operating
expenses; however the peer properties charge additional for electricity. Pushing rents and charging for electricity, provides the opportunity to
increase the cash flow over the hold period.
• 63,054 ± SF
• 4.697 ± Acres
• 260 Parking Spaces, 4:1,000 ratio
• Zoning “RT”- Research/Technology
• 100% Occupied
London Square Offices 2301-2419 Coit Road, Plano, TX 75075
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LONDON SQUARE OFFICES
2301-2419 Coit Road, Plano, TX
• Consists of ten single story garden-style office buildings totaling 63,054 SF.
• Land area is 4.6970 acres/204,601 square feet.
• 100% occupied
• Well maintained
• Constructed in 1984-1985.
• Parking: 260 spaces or 4:1000 square feet of rentable area.
• Zoning is “RT” (Research/Technology).
• Rental rates average $19.67 psf Full Service, including electricity.
• Wood-framed structures with brick veneer exteriors on reinforced concrete slab
and pitched, composition-shingled roofs over wood decks.
• Submarket average rent for similar type properties is $23.00 psf + Electric.
• Valued at $8,500,000
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INVESTMENT HIGHLIGHTS
Location checks all the boxes… • Plano is the 4th largest city in the DFW area with a population of 281,566 and growing at 17% per decennial. • 4 Major Highways surround the portfolio. • 6 Fortune 1000 Headquarters, 17 Companies employing over 1,000 and 12 employing 500-1000 in the area. • Near Baylor Scott & White, Texas Health Presbyterian, Medical City Plano and Children’s Hospital. • Educated workforce, near UT Dallas, Collin College, Dallas Baptist and Collin County Community College. • Retail and restaurants in close proximity. • Walk Score: Very Walkable (81)
Upside opportunities… • Below Market Rents can be pushed. • Current rental rates include utilities, the market accepts + Electricity. • Affordable rents close to major employment centers. Near hospitals and other medical uses to appeal to medical uses. • Small tenant buildings with a stable roster of existing occupants.
London Square is 100% leased with stable in-place cash flow with annual rent increases. The investment provides investors with a long term asset with a diverse tenant base and annual rent increases. The property is leased to smaller, service and medical tenants that serve the surrounding community. The property has been well maintained with strong asset and property management. The price for the proprty is $135.00 psf and a cap rate at 7.25% with ability to increase value.
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SITE PLAN—London Square 2301-2419 Coit Road, Plano, TX 75075
CO
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MAP
London Square
2301 Coit
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AREA INFORMATION—Plano, TX
Median Age 38.8
Bachelor Degree + 57%
Decennial Pop. Growth
17%
Fortune 1000 Headquarters
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Land Area Square Miles
72
7.4 million DFW Population
3.9 million DFW Labor Force
969,603 Collin County Population
281,566 Plano Population
$88,578 Median Household Income
$44,855 Per Capita Income
$271,300 Median Home Price
A global business center. Plano, Texas is located 19 miles north of downtown Dallas, is the fourth largest city
in the Dallas-Fort Worth region with over 281,000 residents.
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AREA INFORMATION cont.
Plano, Texas is a smart place for business, and is home to a number of global companies who selected Plano as the smart place for business. Visionary companies quickly discover that Plano’s smart workforce is key to their success.
Fortune 1000 Headquarters
https://www.planotexas.org/133/Leading-Employers
Bank of America Fannie Mae
Capital One Finance PepsiCo
Hewlett Packard Enterprise Frito-Lay
Toyota Motor North America Texas Health Plano
Ericsson Medical City Plano
Liberty Mutual Insurance Keurig Dr Pepper
JCPenny FedEx Office
NTT DATA McAfee
JPMorgan Chase
Employing 1000+
The Heart Hospital Baylor Plano
Tyler Technologies
USAA Raytheon
AT&T Children’s Health Plano
Baylor Scott & White Medical Center—Plano
Pizza Hut, U.S.
Cigna Crossmark
Employing 500-999
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UPPER TOLLWAY/WEST PLANO OFFICE MARKET
The Upper Tollway/West Plano has emerged as one of the most dynamic office submarkets in Dallas-Fort Worth. The submarket has some of the newest office stock in the metro and now serves as a corporate hub for Toyota’s North American headquarters, and is a major regional location for Liberty Mutual, Amerisource Bergen, JPMorgan Chase, and USAA's recent expansion. These companies have access to a deep and well educated labor pool. More than half of all adults have at least a bachelor ’s degree, and the Plano and Frisco independent school districts are consistently rated among the best in the state. Also, drawing tenants is the abundance of land suitable for large campuses and the high-end retail in the area. Furthermore, both Texas, on a state level, and the City of Plano locally, have shown a willingness to dole out generous incentives to companies looking to relocate to or expand in Plano.
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DFW MARKET Dallas-Fort Worth has a diversified economy and since the recovery has grown by 28%, adding 831 new jobs. Job growth has added
133,160 to the population in the past 12 months, more growth than any other metropolitan area in the country and one-third of Texas’
overall growth. The employment growth is projected to remain stronger than the national benchmark over the next five years.
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FINANCIAL ANALYSIS
Cap Rate: 7.25% Sales Price: $8,500,000 PSF: $135.00
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CONFIDENTIALTY STATEMENT
The information contained in this package is furnished solely for the purpose of review by a prospective purchaser of 2301 Ohio Drive and 2301-2419 Coit Road, Plano, Texas (the “properties”) and is not to be used for any other purpose or made available to any other person without the express written consent of Hudson Peters Commercial (HPC). The information contained in this package is from sources deemed reliable, but is not guaranteed by HPC in any way and is subject to change in price, corrections, errors and omissions, prior sale, or withdrawal without notice. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather a general outline of the pertinent provisions contained herein. Prospective purchasers should rely upon their own financial projections and conclusions without reliance upon the material contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material used in the construction or maintenance of the Property or located at the site.
Terms and Conditions
Property Tours: Property tours are available by appointment. Pro-
spects may schedule a tour of the property by contacting either
Janice Peters or Rachel Boelter.
Offering: Seller is seeking bids for 2301 Ohio Drive and 2301-2419
Coit Road, Plano, Texas.
Terms: All cash; as-is, where-is.
Submit Offer to:
Janice Peters or Rachel Boelter
Hudson Peters Commercial
4464 Sigma Road, Suite 100
Dallas, TX 75244
Financing Disclosure: Please provide evidence of funding, both equity
and debt, upon submission.
Exclusive Advisors:
Janice Peters, CCIM [email protected]
214.389.3664
Rachel Boelter [email protected]
214.389.3668
