Skyway Circle Office
Office | 7.38% CAP | 20,000 SqFt
Marketing description
Skyway Circle Office is located in the highly desirable Las Colinas / DFW Airport Corridor, one of the strongest commercial markets in North Texas. This value-add opportunity presents the chance to lease the remaining 15% of rentable area with a mix of NNN and Fixed CAM reimbursement leases, with the ability to convert to NNN over time. The existing lease structures provide opportunities to increase reimbursements and rental rates upon lease renewals, with competing properties leasing for $16-17/PSF + NNN.
The property benefits from a commitment to site, with a recent renewal from American Pregnancy Association showing commitment to location and serving as the corporate HQ for Unicare Building Maintenance. Located in an infill DFW Airport submarket with limited competitive office/flex supply, the property offers an attractive basis at $131 PSF - below replacement cost. The property is located 7 miles from DFW International Airport with quick access to SH-114, SH-183, Pres. George Bush Tollway, and Highway 161.
The surrounding area is a dense corridor with a population of 248,167 in a 5-mile radius and total daytime employment of 623,000 in a 10-mile radius. Demographics include an average household income of $109,330 in a 5-mile radius. The submarket is home to major corporate users including Amazon Distribution Center, Mentor, Caterpillar, McKesson, Verizon, CitiGroup, and more.
Investment highlights
- Prime DFW Airport Submarket: Located in Highly Desirable Las Colinas / DFW Airport Corridor, One of the Strongest Commercial Markets in North Texas
- Value Add Opportunity: Opportunity to Add Value in Leasing Remaining 15% of Rentable Area | Mix of NNN and Fixed CAM Reimbursement Leases | Ability to Convert to NNN Over Time
- Mark-to-Market Rental Upside: Existing Lease Structures Provide Opportunities to Increase Reimbursements and Rental Rates Upon Lease Renewals | Competing Properties Leasing for $16-17/PSF + NNN
- Commitment to Site: Recent Renewal from American Pregnancy Association Showing Commitment to Location | Corporate HQ for Unicare Building Maintenance
- Limited Competitive Supply: Limited Infill Office/Flex Supply in Infill DFW Airport Submarket | Attractive Basis at $131 PSF - Below Replacement Cost
- Connectivity to DFW Metroplex: Located 7 Miles from DFW International Airport with quick access to SH-114, SH-183, Pres. George Bush Tollway, and Highway 161
- Dense Corridor: Population of 248,167 in 5-Mile Radius | Total Daytime Employment of 623,000 in 10-Mile Radius
- Demographics: Average Household Income of $109,330 in 5-Mile Radius
- Major Employment & Logistics Hub: Surrounding Submarket is home to major Corporate Users including Amazon Distribution Center, Mentor, Caterpillar, McKesson, Verizon, CitiGroup, and More
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