Special Purpose Facility

Harwood Garage

502 N St. Paul St Dallas, Texas United States 75201
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2017
Building Area Net
Number of units 505
Call for Offers

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to present to qualified investors the opportunity to acquire the leasehold interest in the 100% leased Harwood Garage (the “Garage” or the “Property”), located within the heart of Downtown Dallas. Comprised of 505 parking stalls in a 11-level above-grade parking structure, the Garage is directly adjacent to Harwood Center, a 737,270 square foot office building, where the Omnicom Group is the largest tenant since 2000 and currently the sole user of the Property’s parking spaces. Built in 2018, the Property has been institutionally maintained since construction.

Investment highlights

- 100% LEASED THROUGH AUG-2040 BY HARWOOD CENTER;

CURRENTLY LEASED TO INVESTMENT GRADE TENANT OMNICOM (S&P : BBB+) THROUGH SEP-2030 VIA TRI-PARTY AGREEMENT, FULFILLING HARWOOD CENTER'S LEASE OBLIGATION


- COMMITTED TENANT WITH A HISTORY OF 21 YEARS AT THE NEIGHBORING HARWOOD CENTER


- ULTRA-CORE, INFILL LOCATION BOASTING LONG-TERM, FORTIFIED INCOME

- ADVANTAGEOUS GROUND LEASE STRUCTURES WITH AN AVERAGE WEIGHTED LEASE TERM OF 93.8 YEARS


- COMBINATION OF 125K+ EMPLOYEES, 12K+ RESIDENTS, AND AVERAGE PARKING RATIO OF 1:58:1,000 SF* CREATES UNMATCHED DOWNTOWN PARKING DEMAND

Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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