Office Space For Lease @ 1425 W Pioneer Dr

***(NNN) Triple Net Opportunity***
This properties effective rental rate is currently trading below the market average. The average for this area is $12 to 15$ a sqft plus NNN. This property is averaging $10.06 a sqft and that includes full service. If the property were switched to NNN it would have between a 12% to15% cap rate. Marketing material available upon request.
***Description***
Multi-tenant investment opportunity in Irving, Dallas County. This property is a two story, 56,000 sqft (Rentable Space = 50,990) atrium office constructed in 1972. The building is currently 85.2% occupied. Current tenant mix includes mainly small tenant spaces, attorneys, CPA’s, etc. with some institutional and governmental tenants. This is a great cash flow property and a good long term hold opportunity in Irving. This property has been partially renovated periodically from 2014 through 2018. Renovations included a portion of HVAC unit have been replace, new outside cameras, new monitored fire safety system with smoke detectors, new external doors, a new roof, and a new access control system.
***Market Analysis***
The following information was the result of an analytic search via Costar. The DFW Metroplex is projected to continue to outperform most other major metropolitan areas. The area has been able to achieve significant growth in population and unemployment rates below national averages. Long term, the concentration of corporate headquarters, younger population, and lower cost of living relative to many metropolitan areas in the country, is projected to keep demand for most types of real estate robust. This space offers accomodations for: office building.