1919-1923 Bryan Street | One Dallas Center Parking Garage
33.33% Ground Lease Interest in One Dallas Center Parking Garage in Downtown Dallas, TX
Marketing description
DB2RE is pleased to present the valuation for 33.33% ground lease interest in the One Dallas Center Parking Garage in Downtown Dallas along the Northwest side of Bryan Street and Federal Street (between North Harwood & North St. Paul). The garage is a strategically located parking asset in the heart of Downtown Dallas’ City Center District, directly serving the One Dallas Center mixed-use development and the surrounding office, residential, and entertainment corridors. The multi-level structured garage enjoys convenient access to key thoroughfares downtown, as well as, provides convenient and secure parking for office tenants, residents, and visitors. Consistent demand is driven by the dense concentration of nearby employment centers, residential towers, and cultural venues.
The property’s centralized location places it within walking distance of major demand drivers including the AT&T Performing Arts Center, Klyde Warren Park, the Dallas Arts District, and numerous Class A office buildings and high-rise residential developments. Today, the ground lease boats 45 years of remaining term (2071) with rent escalations every 5-years. With downtown Dallas continuing to experience strong mixed-use development and population growth, the One Dallas Center Garage represents a well-positioned parking facility with a fantastic stabilized revenue stream requiring zero responsibility and incremental revenue growth through expiration.
Investment highlights
- Extremely rare ground lease interest in a downtown Dallas parking garage.
- Generational and stabilized revenue stream with 45 years of term remaining on ground lease.
- Rent escalations every five-years through expiration (appraisal reset every five-years through 2053 and then greater of 8% of appraised value or CPI from 2053-2071).
- Zero management responsibilities!
- Ideal for passive and/or 1031 investors seeking alternative investments at a sub $3MM price point.
- Consistent demand driven by the dense concentration of nearby employment centers, residential towers, and cultural venues.
- Immediate access to major downtown thoroughfares, the asset offers excellent connectivity to the broader Dallas CBD and surrounding neighborhoods.
- Major demand drivers including the AT&T Performing Arts Center, Klyde Warren Park, the Dallas Arts District, and numerous Class A office buildings and high-rise residential developments.
- 17,732 and 27,438 businesses with 217,240 and 325,313 employees within a 3 & 5 mile radius.
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