Overview
and hospitality developments. As a result, the building offers tenants access to a wealth of nearby amenities that appeal to the modern office tenant.
The Property offers 94,000 square feet of highly efficient, neighborhood office space that is 59% leased to a mixture of medical, traditional office and co-working office tenants. Well positioned for an owner occupant wanting to take control of
their real estate needs, the building has two full floors available (32,000 SF) for immediate occupancy. The available space is complimented by a diverse rent roll and established income stream that should greatly reduce ownership cost and build equity.
Situated on heavily traveled North Central Expressway at Walnut Hill Lane, 10100 NCX is proximate to one of Texas’ most affluent residential populations. The nearby rooftops fuel demand in the building from customer facing service operators that feed off the community. Consistently regarded as a preferred office submarket, he Central Expressway corridor is benefitted by unsurpassed proximity to a dense demographic base of decision makers and is populated with in-demand destination retail. The rising lease rates in nearby Preston Center and Uptown have made Central a bargain market and as more and more businesses are priced out of these areas, Central is in line to flourish.
Key Facts
Currently home to more than 50 tenants, the building has a secure base tenancy that provides a stable and increasing contractual net operating income. These tenants have an average lease rate of just under $23/sf +E, which is a sizable discount to the submarket’s average ($35.23/sf SF) and a source of potential upside through mark-to-market renewals.
The building’s vacancy is concentrated on the 4th and 6th floors. The single tenant floors are 16,500 SF and feature modern finish outs with exposed ceilings and extensive glass. The available space in conjunction with naming/branding and signage opportunities affords an owner operator a chance to establish an unmatched presence to the more than 300,000 cars passing the building on a daily basis.
10100 NCX is seated in proximity to some of the area’s most influential residential communities. With 3-mile average household income in excess of $100,000, the building is a short drive to Lakewood, Lake Highlands, Preston Hollow, University Park and Highland Park.
