|Number of units||276|
Jones Lang LaSalle Americas. Inc. or its state licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase One Dallas Center (the “Property”), a 276-unit, Class A community in the heart of Downtown Dallas. The Property is located in the largest employment center in North Texas with more than 135,000 employees, four fortune 500 companies, and the highest density of entertainment options. One Dallas Center provides investors with the rare opportunity to acquire a core, luxury asset at a significant discount to replacement cost with first-class amenities and excellent accessibility in the heart of Downtown Dallas.
IRREPLACEABLE ASSET WITH MARKET-LEADING FINISHES & A VALUE CREATION OPPORTUNITY
Jointly re-developed by Todd Interests and Streetlights Residential in 2015, One Dallas Center features hotel quality amenities and market leading finishes including in-kitchen wine coolers, Sonos surround sound, Italian marble tiled bathrooms, resort-style pool with private cabanas, and 30th floor sky lounge. The geometrically designed, I.M. PEI building provides unequivocal skyline views and is offered at a significant discount to replacement cost. In addition, there is a value creation opportunity by converting the recently vacated Verizon space on the 29th floor to six additional units. The Property has seen significant effective rental increases as the last 20 leases signed are 15% higher than the rent roll average.
DESIRABLE LIVE-WORK-PLAY LOCATION
One Dallas Center has an unrivaled urban location providing residents an electric, urban environment where they feel empowered to explore the heart of Downtown Dallas and its continuously evolving culinary and entertainment scene. Boasting a walk score of 93, the Property enjoys the benefits of a true live-work-play location, with all the standards of high-quality urban living just minutes from its doorstep including 480+ restaurants & bars, 300+ shops, and over 40 parks.
DOWNTOWN DALLAS RENAISSANCE
Investments by the public and private sectors have spurred the transformation of Downtown Dallas from a major employment center to an increasingly vibrant live-work-play environment. Since 2000, over six million square feet of office space has been converted to hotel, residential, or retail space. Downtown Dallas has experienced more renovation activity than any other submarket in the metroplex, with 10.8 million square feet, or 28% of the total inventory, being renovated since 2010. In the last decade, more than $3 billion has been invested inside the downtown freeway loop.
TRANSIT-ORIENTED COMMUNITY WITH EXCELLENT ACCESSIBILITY
Positioned along St. Paul and Bryan Street, One Dallas Center provides residents direct access to some of the area’s major thoroughfares including US-75/I-45, Dallas North Tollway, and I-35E. Additionally, the location offers a true transit-oriented destination with St. Paul DART Station positioned outside the northwest entrance of the Property and the M-Line Trolly only a few blocks away, which offers free daily travel to Uptown and Downtown Dallas.