15110 North Dallas Pkwy, Dallas, TX 75248 For Sale

Younger Partners, as exclusive advisor, is pleased to present The Commons, a 6-story, 89,956 square-foot boutique office tower located at 15110 North Dal-las Parkway. The Property has a compliments of modern amenities with walkable access to multifamily, shopping, restaurants and more. The Commons is currently 77% occupied to a curated group of national and regional credit tenants.

A "main and main" location, The Commons is a landmark at the intersect of the Dallas North Tollway and Belt Line Road. Offering unparalleled access and walkability, the building appeals to office tenants seeking efficient space and cost savings in comparison to the area competitive set. The Commons vibrant, live-work-play location in the Lower Tollway Corridor offers investors access to an infill, institutional micro-market centrally positioned between Uptown and Leg-acy.

The Commons is leased to a diverse base of tenants that secure a reliable revenue stream. Further value can be realized through the continued lease-up of the small vacancies that appeal to the broadest segment of the market's tenancy. Ranging in size from 900 to 4,500 square feet, the existing vacancy is ideally positioned to attract small tenant demand that is well documented in the sub-market. Enjoying unmatched access to world class amenities, including an on-site restaurant, existing and potential tenants are benefitted by a superior workplace experience that helps attract and retain the market's top talent.

A revitalization of the asset between 2019 and 2022 has produced higher occupancy and rents. Average new and renewal lease rate have grown substantially and create a dynamic opportunity for mark-to-market renewals in the competitive Far North Dallas submarket. Recent leasing has proven the market at more than $30/sf Plus Electric while average in-place rates sit at $27.88/sf and overall submarket average is $33.13/sf.

In addition to strong leasing potential, the underlying 2.3 acre site presents a rare long-term redevelopment opportunity in one of Dallas' most desirable of-fice and residential corridors. This unique combination of current income, in-stitutional quality, and future optionality positions The Commons as a compelling investment opportunity.

Dallas leads the nation in back to the office statistics and it isn't even close. Office utilization in the market is a 77% of pre-pandemic levels with hybrid schedules here to stay. These metrics align with reality. Attorneys take dep-ositions in conference rooms, accountants review tax filings in offices and den-tists don't make house calls. Some businesses can thrive out of the office but the typical suburban office tenant relies on a professional setting to host meet-ings and interact with clients and coworkers. The Commons fits neatly into this category with tenancy that reads like a "101" intro-class for suburban of-fice: Law firms, real estate developers, restaurateurs, wealth management ex-perts, consultants and more.

Located at the intersection of Belt Line Road and the Dallas North Tollway at the heart of Addison's "Miracle Mile," The Commons offers modern upgrades with high-quality finishes and flexible floor plates. Positioned to compete with the area's larger, Class A office assets, the building is better suited to small tenants not wanting to be lost in the shuffle.

Far North Dallas is an in-fill submarket with limited developable land remaining to meet the needs of the region's persistent growth. Continued development of amenities along with new housing has caused rents to increase steadily. With a diverse tenant base that has ties to the surrounding community, The Commons is poised to continue an upward trajectory for investors seeking stability and predictable returns in combination with upside and increasing rental rates. Average submarket rental rates are currently more than $33.00/sf. The building secures a valuable niche in the market where the area competitive set is comprised of mostly Class A office assets with quoted lease rates in excess of $30/sf NNN.

As Dallas continues to grow as a global destination for corporate relocations, the strong market fundamentals (transportation, workforce, business friendly climate, low cost of living, etc...) should fuel deman for suburban office that is tailored to the needs of small tenants. Rising rental rates and replacement costs have placed Tollway assets at a substantial discount in occupancy costs relative to the competitive set and Class A Dallas market. Drastically rising land and construction costs will continue to improve the relative basis while also creating upside for rental rate growth. Additionally, Class B rental rates will continue to increase as they keep pace with the Class A market that shows no signs of slowing.

Available at an irreplaceable basis, The Commons offers a bite-sized entry into a thriving Dallas economy and a foothold in one of the most active leasing markets in Dallas (1,466,054 SF of leasing activity in 2025). Sandwiched be-tween Uptown/Preston Center and the Legacy submarket, Far North Dallas is a relative value market with superior access to transportation nodes and desired amenities.