DALLAS
CBD
DALLAS
LOVE FIELD
35E
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S I N G L E
T E X A S
T E N A N T
( AT & T )
A B S O L U T E
N E T
L E A S E
Stream Realty Partners, L.P. is pleased to exclusively offer for sale to qualified buyers a 100% fee simple interest in a single tenant absolute
net leased office building at 1460 Round Table in Dallas, Texas (“Property”). The property is 100% leased to a wholly owned subsidiary of AT&T,
which is a Fortune 15 company and one of the 30 stocks that comprise the Dow Jones Industrial Average. The property consists of approximately
9.66 acres of land, with a 104,427 square foot single story office building. AT&T has been a tenant at the property for 15 years and
recently renewed their commitment through 2019.
1460 Round Table offers a potential investor the ability to own a single-story, standalone building with secured parking and excess land that is 100% leased to AT&T on
an absolute net lease structure. The property is situated on approximately 9.6 acres
of land, which affords the owner the ability to expand parking and / or building area;
which adds tremendous value in a substantially land constrained submarket. AT&T,
who has leased the property on an absolute net basis since January 1, 2000, recently
executed a new 5-year lease for the property that commences January 1, 2015.
The tenant uses the facility to service the surrounding communities with their fiber
optic technology for television, internet and voice known as AT&T U-verse and also
operates additional AT&T business lines in the facility. AT&T Inc. ranks #11 on the 2014
Fortune 500 list which tracks public and private U.S. companies based on their gross
revenues. The centralized location of the property within a revitalized infill submarket
of Dallas / Fort Worth is strategic for the tenant as it is in close proximity to the major
neighborhoods that they provide their U-verse and other company services.
ASSET PROFILE
Location
1460 Round Table Drive, Dallas, Texas 75247
Price
No List Price
Building Size
104,427 square feet
Current Occupancy
100%
Stories / Tenants
1/1
Year Built / Renovated
1968 / 2000
Land Size
9.662 acres
Tenant
AT&T
Submarket
West Brookhollow Submarket
Lease Structure
Absolute Net
Parking Ratio / SF
Secured 3.9 / 1,000 & Expandable to 7.0 / 1,000
14 60 ROU ND TABLE | O FFER I N G SUM M ARY
·
·
·
·
·
AT&T Market Cap - $179 Billion (NYSE: T)
Limited competitive set of buildings with 100,000 contiguous square feet and the ability to park greater than 6 / 1,000 SF
Absolute net lease structure eliminates landlord risks and obligations
Long term committed tenancy
Strong DFW office marketplace
INFILL DALLAS / FORT WORTH LOCATION
CARROLLTON
161
N
The property is well positioned within the South Stemmons / West Brookhollow
RICHARDSON
RT
DA
FARMERS
BRANCH
289
75
DA
RT
Re
dL
ine
COPPELL
submarket, which is undergoing a revitalization as old warehouses and showrooms are
Line
en
Gre
being torn down and redeveloped into retail and multi-family product. The submarket
635
GARLAND
Future DART
Orange line
Dallas Fort Worth
International
Airport
boasts a vacancy rate of approximately 5.85%, with approximately 60% of the product
being owner-occupied.
ue Line
Bl
DART
635
The property is conveniently located immediately west of Interstate 35, a major
PRESTON
HOLLOW
77
161
114
12
12
35E
183
UNIVERSITY
PARK
Dallas Love
Field
thoroughfare that divides the center of Dallas and allows easy access to Dallas’
244
major highway system. Proximity to Texas State Highway 183 (east/west) and Texas
78
State Highway 114 (northwest/southeast) allows optional access to Dallas Fort Worth
LAKEWOOD
HIGHLAND
PARK
IRVING
International Airport’s north and south entrances (13 miles). Other easily accessible
1460 ROUND TABLE DRIVE
Trinity Railway Express
30E
thoroughfares are Interstate 635 and the Dallas North Tollway, both of which conveniently
serve residential communities including Preston Hollow, University Park, Highland Park
GRAND
PRAIRIE
DALLAS
CBD
12
MESQUITE
and Uptown. Located approximately 4 miles east of the property is Love Field Airport
which serves as the national hub for Southwest Airlines and recently received a $520
352
30E
80
million renovation and expansion in advance of the repeal of the Wright Amendment
which has restricted direct flights from Love Field to non-contiguous states.
45
35E
EXCESS LAND / LONG TERM FLEXIBILITY
The building is set on the west side of a 9.66 acre site that was originally laid out to
contain the existing structure as well as an additional two-story office structure. The
property currently boasts a parking ratio of approximately 3.90 per 1,000 square feet
of rentable space with ample excess land primed to expand the parking capacity in
+/- 317
Parking Spaces
the future, if need be. Capacity for an approximate 330 additional parking spaces is
available on the undeveloped portion of the site, providing the potential for a parking
Excess Land for Building
or Parking Expansion
ratio of approximately 7.0 per 1,000 square feet. The competitive set for a stand-alone
+/- 89
Parking
Spaces
office building over 100,000 square feet with the ability to park over 6 per 1,000 square
feet is almost non-existent across Dallas / Fort Worth.
Existing Parking
Existing Parking
Expansion Land
Expansion Land
14 60 ROU ND TABLE | O FFER I N G SUM M ARY
DFW OFFICE MARKET – CORPORATE RELOCATIONS
Tenant:AT&T Services, Inc.
(wholly owned subsidiary of AT&T Inc.) Dallas / Fort Worth has the fundamentals that corporations are looking for when
considering where to conduct their business. Affordable living, quality transportation,
Number of Employees: > 260,000 Globally
centralized location, pro-business environment and favorable tax structures are just a
Web Site Address: www.ATT.com
few of the attractions that have made Dallas / Fort Worth the largest concentration of
Corporate Headquarters: Dallas, Texas
S&P Credit Rating:
A- (Investment Grade)
corporate headquarters in the United States.
AT&T provides telecommunications services to consumers and businesses in the
AT&T, Inc. is headquartered in Dallas, Texas, boasting a local employee base of over
United States and internationally. AT&T’s Wireless segment offers various wireless
15,000 people.
voice, data, text, and other services, including local wireless communications services,
their U.S. headquarters to Plano, Texas, consolidating approximately 4,000 jobs from
long-distance services, and roaming services. As of December 31, 2013, this segment
California, Kentucky and New York. State Farm announced in 2013 that they would be
served approximately 110 million wireless subscribers. The company has a strategic
moving into greater than 1.5 million square feet in the City Line development in Plano,
relationship with IBM to provide businesses with a source for network security and
Texas which is expected to
threat management.
bring 8,000 jobs to the area.
Automaker Toyota recently announced that they will be moving
Rumors are swirling daily of
DALLAS / FORT WORTH'S LARGEST
PRIVATE SECTOR EMPLOYERS
AT&T is the largest non-oil company in Texas and third overall. AT&T Inc. common
new
stock is listed on the New York Stock Exchange (Ticker: T). AT&T is a Fortune 500
further
Wal-Mart Stores, Inc.
34,698
company and is one of the 30 stocks that make up the Dow Jones Industrial Average.
/ Fort Worth as a leading
American Airlines
24,700
The company was formerly known as SBC Communications Inc. and changed its name
business environment.
Bank of America
20,000
Texas Health Resources
19,230
Baylor Health Care System
17,097
corporate
relocations
solidifying
Dallas
to AT&T Inc. in November 2005.
TOP 10 CITIES
FOR RELOCATIONS
The facility at 1460 Round Table is used to service multiple AT&T business lines,
with U-Verse comprising the largest component.
EMPLOYEES
AT&T Inc.
15,800
RANK CITY
Lockheed Martin
14,126
1
New York City, NY
JPMorgan Chase
13,500
2
Los Angeles, CA
UT-Southwestern Medical Center
13,122
3
San Francisco, CA
HCA Health Care
12,000
4
Dallas, TX
Kroger
10,097
5
Atlanta, GA
Texas Instruments
9,100
6
Houston, TX
Raytheon
8,700
7
Philadelphia, PA
Target
8,674
8
Chicago, IL
Parkland Health & Hospital System
8,134
9
Boston, MA
J.C. Penney
7,964
10
Washington, DC
Southwest Airlines
7,022
Source: Forbes Magazine 2014
14 60 ROU ND TABLE | O FFER I N G SUM M ARY
COMPANY
Source - Dallas Business Journal
MARKET EXPERT
INVESTMENT SALES
Jamie Jennings
James Mantzuranis
Keith Fisher
Anthony Bolner
214.267.0452
214.267.0494
214.267.0415
214.267.0495
[email protected]
[email protected]
[email protected]
[email protected]
PROPERTY TOURS
Property tours are available by appointment. Prospects may schedule a tour of the property by contacting investment sales or market experts teams.
14 60 ROU ND TABLE | O FFER I N G SUM M ARY