Lakepointe Flex Center
Industrial | 136,324 SqFt
Marketing description
Summit is pleased to present for sale, Lakepointe Flex Center, located at 1945 Lakepointe Dr in Lewisville, TX. The 136,324 SF, one story office, offers frontage on Lakepointe Drive with convenient access to major trade routes of Interstate 35 and Hwy 121. Situated within the office and industrial pocket along I-35 with a synergistic mix of large operational tenants including Amazon delivery station, TPS Manufacturing Facility, Viacore, and more. The property is occupied by NNN leases that offers an investor limited landlord responsibility. In addition, the property is located 15 minutes from DFW International Airport and 30 minutes from Dallas Love Field Airport. Lakepointe Flex Center is in a highly desirable pocket that has a 5.6% vacancy rate in a 1-mile radius. The property offers investors a phenomenal opportunity to acquire a fully stabilized 1-story office building at a significant discount to replacement in a premier submarket.
Investment highlights
NNN Lease Structures for All Tenants Limited Landlord Responsibility
Attractive 3% Annual Increases for both Tenants Average Rental Rate is $14.91 +NNNs
100% Occupied Stabilized Asset
Located in Highly Synergistic Office/industrial Pocket Over 6.3 Million SF of Inventory in 1-Mile Radius
High Growth Area Projected 3.8% Annual Population Growth Until 2029 in 1-Mile Radius
Average Household Income in 5-Mile Radius is $117,007 which is Over 1.45X the National Average
Numerous National Retailers in Near Vicinity Including Walmart Supercenter, Costco, Best Buy, Chik-Fil-A, and Many More | Creates Conveniency for Tenants
Teladoc Occupies 81.50% of Property (111,099 SF) High Credit Tenant Lease Until 2031
Brand New 7-Year Lease with Dynagrid Until 2032 with 2x5 Year Options
Highly Desirable Area Vacancy Rate is 5.6% in 1-Mile Radius
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