Overview
Younger Partners, as exclusive advisor, is pleased to present the opportunity
to acquire Skymark Tower (the “Property”), an institutionally owned and
maintained office building in the Arlington submarket. Well regarded for a
long history of stable and consistent leasing, the Property offers 115,700
square feet of highly efficient, small suite office space that is 82% leased to
a diverse range of tenants. Strong in-place cash flow with a staggered
rollover schedule allows for the next investor to continue common area
improvements and push expiring rents to market.
Located a short distance from the DeathStar, Texas Live, Globe Life Field
and the rest of the Arlington Entertainment District, Skymark Tower is benefitted
by the countless restaurants, shopping centers, museums and live entertainment
venues within eyeshot of the building.
Prominently located at the corner of Cooper Street and IH-30, the building
is easily accessed and is arguably the most recognizable office buildings in
the submarket. Available at a ridiculous discount to replacement cost, the
building’s acquisition basis should further benefit value-add investors looking
to execute a repositioning plan in one of Dallas’ most consistent office submarkets.
Leased to a variety of professional service firms, Skymark Tower has a limited
number of available suites. Conditoned to a “spec” standard, the bulk of
the vacancy is ready to lease with no additional capital required
to acquire Skymark Tower (the “Property”), an institutionally owned and
maintained office building in the Arlington submarket. Well regarded for a
long history of stable and consistent leasing, the Property offers 115,700
square feet of highly efficient, small suite office space that is 82% leased to
a diverse range of tenants. Strong in-place cash flow with a staggered
rollover schedule allows for the next investor to continue common area
improvements and push expiring rents to market.
Located a short distance from the DeathStar, Texas Live, Globe Life Field
and the rest of the Arlington Entertainment District, Skymark Tower is benefitted
by the countless restaurants, shopping centers, museums and live entertainment
venues within eyeshot of the building.
Prominently located at the corner of Cooper Street and IH-30, the building
is easily accessed and is arguably the most recognizable office buildings in
the submarket. Available at a ridiculous discount to replacement cost, the
building’s acquisition basis should further benefit value-add investors looking
to execute a repositioning plan in one of Dallas’ most consistent office submarkets.
Leased to a variety of professional service firms, Skymark Tower has a limited
number of available suites. Conditoned to a “spec” standard, the bulk of
the vacancy is ready to lease with no additional capital required
Key Facts
IMMEDIATE UPSIDE - 17,258 SF OF MOSTLY SPEC VACANCY AVAILABLE FOR LEASE UP.
AMENITY RICH ARLINGTON MARKET.
DYNAMIC LOCATION AMONGST ARLINGTON ENTERTAINMENT DISTRICT.
VARIETY OF SPACE OPTIONS AND STRONG IN-PLACE CASH FLOW FROM ESTABLISHED TENANTS.
SMALL FLOOR PLATES.
ACCESSIBLE BALCONIES FROM SOME RENTABLE SUITES.
OUTSTANDING ACCESS TO AREA TRANSPORTATION NETWORKS.
LONG RUN OPTIONALITY OF 5.74 ACRES WITH FREEWAY FRONTAGE AND ACCESSIBILITY.
BENEFITED BY DALLAS / FORT WORTH’S STATUS AS A TOP U.S. MARKETPLACE WITH A DIVERSIFIED ECONOMY, NATION LEADING POPULATION AND JOB GROWTH.
DISCOUNT TO REPLACEMENT COST OF APPROXIMATELY $400/SF.
