Overview
Younger Partners is pleased to offer qualified investors the opportunity to purchase Gateway Tower (Property), a renovated mid-rise office asset at the high profile interchange of IH-635 (LBJ Freeway) and US-75 (Central Expressway). The prominent, fifteen-story office building offers an immediate opportunity to increase revenue through leasing of available suites and mark-to-market rental rate increases via staggered rollover. At 55% occupancy, Gateway Tower benefits from a diverse mix of tenant industries and in-place cash flow. With in-place rents averaging 15% below market, the offering presents a rare opportunity to acquire a renovated office building with all the bells and whistles and current cash flow with mark-to-market rents on 58% rollover in the next 36 months.
Positioned to capture tenant demand as a result of increased rates in the lower segment of the Dallas North Tollway, neighboring Central Expressway and Richardson / Plano office markets, Gateway Tower offers modern upgrades with high-quality finishes, floor plates that allow flexible leasing configurations and easy access to transportation. Additionally, the property’s central location presents unsurpassed accessibility and connectivity to the Dallas/Fort Worth Metroplex and the adjacent neighborhoods which provide abundant executive and work force housing.
Current ownership has invested almost $675,000 in recent years to modernize the building and add amenities that include conference center, tenant lounge, fitness center, grab-and-go and renovated lobby.
With over 11.5 million square feet of retail in a 3-mile radius, the Property’s location enables users to access an assortment of retail from the Galleria, Preston & Forest, and Preston & Royal intersections. Boasting 280,000 vehicles per day, the LBJ Freeway is the center thoroughfare of the Metroplex and provides easy access to Love Field, Addison Airport and DFW International Airport. The LBJ office market has long been a desired location for tenants given its position along the regions primary East-West throughfare. With the Dallas metropolitan area ranked #1 by Kastle Systems “Back to Work” metrics, Crosspoint Atrium is poised to outpace the competition!
Positioned to capture tenant demand as a result of increased rates in the lower segment of the Dallas North Tollway, neighboring Central Expressway and Richardson / Plano office markets, Gateway Tower offers modern upgrades with high-quality finishes, floor plates that allow flexible leasing configurations and easy access to transportation. Additionally, the property’s central location presents unsurpassed accessibility and connectivity to the Dallas/Fort Worth Metroplex and the adjacent neighborhoods which provide abundant executive and work force housing.
Current ownership has invested almost $675,000 in recent years to modernize the building and add amenities that include conference center, tenant lounge, fitness center, grab-and-go and renovated lobby.
With over 11.5 million square feet of retail in a 3-mile radius, the Property’s location enables users to access an assortment of retail from the Galleria, Preston & Forest, and Preston & Royal intersections. Boasting 280,000 vehicles per day, the LBJ Freeway is the center thoroughfare of the Metroplex and provides easy access to Love Field, Addison Airport and DFW International Airport. The LBJ office market has long been a desired location for tenants given its position along the regions primary East-West throughfare. With the Dallas metropolitan area ranked #1 by Kastle Systems “Back to Work” metrics, Crosspoint Atrium is poised to outpace the competition!
Key Facts
High profile Landmark office building
2 year weighted average lease term
55% occupancy with below market rents
Limited capital - $675K invested since 2019
Centrally located to vibrant north dallas
2023 - #2 market for real estate (ULI/PWC)
Population of 8.1 million with 328 new residents daily
No sector of the DFW economy accounts for more than 20% of employment
