transformative mixed-use development
TRANSCRIPT
THE UNIONTHE UNION
THE CHRISTOPHERTHE CHRISTOPHER
THE CRESCENTTHE CRESCENT
2000 MCKINNEY2000 MCKINNEY
ADVANCIAL TOWERADVANCIAL TOWER
PARKVIEW AT 1920 MCKINNEYPARKVIEW AT 1920 MCKINNEY
MCKINNEY & OLIVEMCKINNEY & OLIVE
DOWNTOWN DALLAS
DESIGN DISTRICT
VICTORY PARK
PARK CITIES
OAK LAWN
PARK DISTRICT
HARWOOD DISTRICT
PLANNED $76 MILLION KLYDE WARREN PARK
EXTENSION
PLANNED $76 MILLION KLYDE WARREN PARK
EXTENSION
Woodall Rogers Freeway 166,450 VPD
Dallas North Tollway
Harry H
ines Blvd
Fie
ld S
t. 2
1,6
90
VP
D
McKinney Ave.
Stemmons Freeway
GABLES PARK 17GABLES PARK 17
Akard
Street
T H E T R I T O N | | 3 2 | | T H E T R I T O N
# 1 O F F I C E
# 1 H O T E L
# 1 M U LT I F A M I LY
# 2 R E T A I L
S U B M A R K E T I N T E R M S O F R E N T A L R A T E I N D F W
Holliday Fenoglio Fowler, L.P. (“HFF”), acting by and through
Holliday GP Corp., a Texas licensed real estate broker, is
pleased to offer qualified investors the scarce opportunity
to develop The Triton (the “Property”), a generational asset
encompassing 3.97 acres of prime development land located
in Uptown Dallas. The Triton is currently a retail development
with one building leased to El Fenix, Meso Maya, and La
Ventana, three of Dallas’ iconic Mexican food restaurants and
up to 3.62 acres of vacant land with the ability to develop the
maximum FAR given to the entire four acres. Located in Uptown
Dallas along Field Street and Woodall Rogers Freeway, just
steps from Klyde Warren Park, the Property sits at Dallas’ most
desirable location for commercial development. Furthermore,
the site enjoys favorable zoning that allows for a maximum floor
area ratio of 10:1 for office development, giving a developer
flexibility to build with minimal size restrictions. With the site’s
in-fill location adjacent to Klyde Warren Park, exceptional
visibility, and location in arguably the most dynamic labor and
demographic environment in the country, The Triton presents
an investor the rare opportunity to acquire a large, contiguous
block for development into an iconic, best-in-class, mixed-use
development.
UPTOWN DALLAS' PREMIER
DEVELOPMENT OPPORTUNITY
RARE, Four-Acre Full City Block
FAVORABLE ZONING with allowable FAR of 10:1
DYNAMIC, HIGHLY WALKABLE Location to Employers and Amenities
RARE OPPORTUNITY Due to Scarcity and Size of Land Parcel
Adjacency toKLYDE WARREN PARK, which is slated for a $76 million expansion by 2022
T H E T R I T O N | | 5 4 | | T H E T R I T O N
I N V E S T M E N T H I G H L I G H T SLANDMARK PLACEMAKING OPPORTUNITY
» Envisioned as a major Uptown destination, The Triton can
capitalize on the significant momentum within Dallas’ urban
core to create a pedestrian-friendly and dynamic mixed-use
development.
» A unique opportunity for a pre-assembled, flat, development
ready full city block in Dallas’ rapidly growing urban core
» Favorable zoning with 10:1 allowable floor area ratio
MARKET LEADING DEMOGRAPHICS
» Population of over 200,000 people within three miles
» $175K average household income
» Prime consumer average age of 37 in the immediate trade area
GOLDEN HORSEHOE LOCATION
» Direct ingress and egress to the Dallas North Tollway via Harry
Hines
» Multiple entry points to major thoroughfares including I-35, I-30
and US-75
» Unmatched highway connectivity via Woodall Rogers Freeway
THE LAST REMAINING DEVELOPABLE CITY BLOCK IN UPTOWN DALLAS,THE TRITON IS A GENERATIONAL DEVELOPMENT OPPORTUNITY SURROUNDED BY AMENITIES, DINING, RECREATION, SPORTS, AND STRONG DEMOGRAPHICS IN THE NATION'S TOP-PERFORMING AND MOST BUSINESS-FRIENDLY CITY.
THE UPTOWN SUBMARKET
Tops The List In Occupancy And Rent Growth In All Property Types
EXCELLENT INGRESS & EGRESS
to major highways and arterial thoroughfares
30%
92
POPULATION GROWTH
WALK SCORE
since 2010
Indicates "Walker's Paradise"
CONTINUED DENSIFICATION
with recent completion of mixed-use developments
The Union Park District
KLYDE WARREN PARK
PARK DISTRICT
PARKVIEW AT 1920 MCKINNEY
THE UNION
| 7 T H E T R I T O N |6 | | T H E T R I T O N
DALLAS’ PREMIER URBAN DESTINATION
Unmatched accessibility to several
amenities within the submarket including
over 75 walkable restaurants
Highly desired street frontage along Field
Street with convenient access to Woodall
Rogers Freeway
Location at meeting point of Uptown and
Downtown Dallas, DFW's two largest
employment centers
Less than 250 yards from Klyde Warren
Park, Dallas' premier urban green space
which connects Uptown and Downtown
Dallas
Stands to benefit greatly from the recently-
announced $76 million expansion of Klyde
Warren Park, which will extend the park
from St. Paul Street to Akard Street, and
beyond. The expansion is expected to have
an $850 million economic impact on the
area and is likely to be completed in 2022
HISTORICALLY RESILIENT SUBMARKET
» Uptown leads DFW in office rents and boasts some of
the strongest fundamentals in the metro. Recent office
developments, built within the past 10 years, are achieving
rental rates of $40+ PSF NNN with average occupancy of
96%.
» Multi-family in Uptown tops the market in absorption and
rental rates averaging $1,676/month as it offers a true
live/work/play environment and easy access to major job
centers.
» The Uptown retail submarket enjoys a 96% occupancy
rate and the 3rd highest rents in the metro.
» Uptown hotels have historically led the Dallas market in
RevPAR, posting an average RevPAR over $225 for 2018.
The 2,843 keys near the property include the Ritz-Carlton,
The Crescent, and The Rosewood Mansion.
» Major nearby developments, including McKinney & Olive,
Park District and The Union, have proven property type
fundamentals in the submarket through record pre-
leasing and top tenant attraction.
8 | | 9 | T H E T R I T O N T H E T R I T O N |
MARQUEE UPTOWN OFFICE TENANTS
OLD PARKLAND
HARWOOD NO. 7 FROST TOWER
HARWOOD NO. 10
ROLEXHEADQUARTERS
THE UNION
MCKINNEY & OLIVE
PARKVIEW AT1920 MCKINNEY
PEROT FAMILYHEADQUARTERS
PWC TOWER 1900 PEARL
MCKINNEY & OLIVE
Built 2016
536,000 SF
Asking Rents: $39 NNN
PARKVIEW AT 1920 MCKINNEY
Built 2016
130,000 SF
Asking Rents: $37 NNN
THE UNION
Built 2018
420,688 SF
Asking Rents: $40 NNN
PWC TOWER
Built 2018
494,300 SF
Asking Rents: $40 NNN
PEROT FAMILY HEADQUARTERS
Built 2017
200,000 SF
Asking Rents: N/A
1900 PEARL
Built 2018
261,400 SF
Asking Rents: $42 NNN
HARWOOD NO. 7 FROST TOWER
Built 2015
167,735 SF
Asking Rents: $40 NNN
OLD PARKLAND
Built 2008 - 2017
427,625 SF
Asking Rents: $60 NNN
ROLEX HEADQUARTERS
Built 2018
130,000 SF
Asking Rents: N/A
HARWOOD NO. 10
Under Construction
231,098 SF
Asking Rents: $38 NNN
Dallas / Fort Worth's massive population growth has led to an increased demand for space in the urban core. Several major
office towers have been recently completed in Uptown as developers and high-profile tenants continue to seek out Dallas
most desirable office submarket.
R E C E N T O F F I C E P R O J E C T S
10 | | 11 | T H E T R I T O N T H E T R I T O N |
BLEU CIEL
AZURE
CAMDENVICTORY PARK
ONE UPTOWN
TOWER RESIDENCESAT THE RITZ-CARLTON
RESIDENCES ATPARK DISTRICT
1900 MCKINNEY
GABLES PARK 17
THE ASHTON
GABLESMCKINNEY AVE
M-LINE TOWER
3700M ARDANWEST VILLAGE
CARLISLE & VINE
THE KATY
THE BRADY
THE JORDAN
THE TAYLOR
ASCENTVICTORY PARK
THE 23
SKYHOUSE DALLAS
THE CHRISTOPHER
GLASSHOUSEVICTORY PLACE
ARPEGGIOVICTORY PARK
THE 23
Built 2018
285 units
CARLISLE & VINE
Built 2018
149 units
THE BRADY
Built 2015
299 units
VICTORY PLACE
Built 2017
350 units
RESIDENCES AT PARK DISTRICT
Built 2018
227 units
ONE UPTOWN
Built 2017
196 units
ASCENT VICTORY PARK
Built 2017
301 units
THE KATY
Built 2017
463 units
ARDAN WEST VILLAGE
Built 2018
389 units
M-LINE TOWER
Built 2017
260 units
Since 2015, an impressive 6,600 multifamily units have been delivered in Uptown demonstrating the submarket's pre-
eminence as Dallas' premier corporate and entertainment hub. In spite of this pipeline and due to unprecedented demand, the
number of apartment units in lease-up is down 224% from its 2016 level. Apartment fundamentals in Dallas' most desirable
submarket are poised to remain strong as Dallas continues to enjoy nation-leading population and job growth.
R E C E N T M U LT I F A M I LY P R O J E C T S
T H E T R I T O N |12 | | T H E T R I T O N | 13
ONE OF THE MOST DIVERSE economies in the U.S.
EXPECTED TO RANK FIRST in both population and job growth (2019-2023)
8TH LARGEST millennial population in the United States
DFW is considered ULI's 2019 Emerging Trends 1ST MARKET TO WATCH
0% STATE INCOME TAX & an unemployment rate of 3.2%
1ST IN THE NATION in job creation over past 12 months with over 116,000 new jobs
DFW ECONOMIC OVERVIEW
Deal Contacts:
J E R E M Y S A I N Managing Director [email protected] 469.232.1904
C H R I S M U R P H Y Senior Director [email protected] 469.232.1941
S T E V E H E L D E N F E L S Managing Director [email protected] 469.232.1924
R O S S C R AW F O R D Analyst [email protected] 214.692.4712
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 26 offices and are
a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement,
investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
HFF has been engaged by the owner of the property [properties] to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective
equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any
other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from
that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent
investigation and rely on those results. The information contained herein is subject to change.