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OFFERING SUMMARY 48,803 SF | 100% LEASED | NATIONAL HEADQUARTERS | 9 YEARS REMAINING TERM 1500 INTERSTATE 35W

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Page 1: 1500 - LoopNetimages2.loopnet.com/d2/gYMVRqfIvtT-3eqZ42a... · 20 20 20 20 635 635 635 635 820 820 MESQUITE BALCH SPRINGS ALLEN HURST SAGINAW HASLET WESTLAKE KELLER COLLEYVILLE BELT

OFFERING SUMMARY

48,803 SF | 100% LEASED | NATIONAL HEADQUARTERS | 9 YEARS REMAINING TERM

1500 INTERSTATE 35W

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HFF has been exclusively retained by the Owner to offer qualified investors the

opportunity to purchase 1500 I-35W, a 100% occupied, 48,803 square foot light industrial

facility located in the heart of the North Dallas suburb of Denton. AIT Laboratories, a

HealthtrackRx company is a leading clinical prescription drug monitoring and testing

laboratory. The tenant has occupied the building since August 2016 and has over 9

years of remaining term. In 2016, AIT Laboratories, a HealthtrackRx company spent $3.4

million ($69.67 PSF) renovating their headquarters. The Property is positioned within

the Denton industrial market at the convergence of I-35E & I-35W, a preferred location

for corporate users which benefit from major distribution and manufacturing facilities

including Peterbilt, Target, Aldi, HD Supply, Winco and Fastenal among others.

PROPERTY OVERV IEWINVESTME NT OVERV IEW

2

BUILDING ADDRESS 1500 I-35W

Denton, TX 76207

RENTABLE AREA 48,803 SF

OFFICE / LABORATORY 35,000 SF (72%)

WAREHOUSE 13,803 SF (28%)

% LEASED 100%

YEAR BUILT 1972 (2016 RENOVATION)

CLEAR HEIGHT 14' - 18'

SITE AREA 7.13 ACRES

LOADING DOORS 1 DOCK-HIGH DOOR

4 DRIVE-IN DOORS

ROOF AGE 2016 (WARRANTY UNTIL 2036)

AIT LABORATORIES, A HEALTHTRACKRX COMPANY — AIT Laboratories, a HealthTrackRx Company is a leading prescription drug monitoring laboratory offering compliant and medically necessary testing services specialized on a case by case basis. The company’s qualitative and quantitative testing provides physicians with results that strengthen monitoring processes and create more effective treatment plans. In July 2016, The American Institute of Technology (AIT) merged with HealthTrackRx to pair HealthTrackRx’s first-rate technology platform with recognized leadership in toxicology in an effort to create a new standard in medication monitoring and drug testing. The Property serves as the company’s national headquarters.

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15,000 STUDENTS

255 BEDS90,824 VPD

45,378 VPD

DOWNTOWN DENTON

38,000 STUDENTS

1500 INTERSTATE 35W

3

LOCATION MAP 1500 INTERSTATE 35W

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Distribution Center

Morrison MillingDistribution Center

1500 INTERSTATE 35W

Accessible to over 1 million people within a 30 minute drive

Strategically situated at the heart of Denton’s traffic and growth patterns

From 2000 to 2010, Denton’s population ballooned 41%

Denton’s population is anticipated to double by 2030

#3 fastest growing large county in America

UNT is the 5th-largest university in Texas, (33rd largest in U.S.)

TWU has a student population of over 15,000

Denton’s diversified economy is home to major employers including Peterbilt Motors, Sally Beauty Supply International, United Copper, Acme Brick, Jostens, and Farmer Brothers

Major distribution facilities for Target, Wal-Mart, Safety-Kleen, and Miller Brewing are located in Denton

I-35 is the thoroughfare for NAFTA-related traffic

INDUSTRIAL MARKET

858,000 SF 18,000 SFunder

constructionof absorption

YTD

OCCUPANCY RENT GROWTHSINCE 2013

96.1% 12.5%

A REA DR IVE RS

A REA DR IVE RS

1500 INTERSTATE 35W

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PROPERTY H IG HL IGHTS

PROSPER

BELT LINE ROAD

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SOUTHLAKE

TROPHY CLUB

ROANOKE

Texas MotorSpeedway

DentonMunicipal

Airport

ARGYLE HICKORYCREEK

HIGHLANDVILLAGE

THE COLONY

CROSSROADS

AUBREY

KRUGERVILLE

KRUM

SANGER

CELINA

ROLAND

WESTON

MELISSA

ANNA

PRINCETON

MUSTANG

LITTLEELM

OAKPOINT

35E

377

289

288

35E

35E

35E

35W

35W

35W

30

30

30

35

45

45

2020

20

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635 635

635

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820

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MESQUITE

BALCHSPRINGS

ALLEN

HURST

SAGINAW

HASLET

WESTLAKE

KELLER

COLLEYVILLE

BELTJUNCTION

FOREST HILL

BEDFORD

DENTON

1500 INTERSTATE 35W

1500 I-35W represents a unique opportunity to acquire a mission-critical

laboratory and warehouse center within one of the United States’ most vital

industrial markets, Dallas/Fort Worth. The Property is 100% leased to AIT

Laboratories, a HealthtrackRx Company, who announced 1500 I-35 W as its

national headquarters and invested $3.4 million into their space. The current

lease term extends through November 2026 on a net basis. 1500 I-35W

provides investors the opportunity to acquire a strategic asset with stable

cash flow at a discount to replacement cost.

PROPERTY H IGHL IGHTS

1500 INTERSTATE 35W

to AIT, a HealthTrackRx Company

Stable income with over

in 2016 renovations with incredible tenant commitment to property

Access to major

100% Leased

Nine Years of Remaining Term

$3.4 Million

Highway Infrastructure

N A T I O N A L H E A D E R Q U A R T E R SMISSION-CRITICAL

5

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ACCESSIBILITY

BUSINESS ENVIRONMENT

WHY DALLAS/FORT WORTH? Central U.S. location featuring Dallas-Fort Worth International Airport & Dallas Love Field

81 .2M PASSENGERS PER YEAR

#1STATE FOR DOING BUSINESS

13 YEARS IN A ROW - CEO Magazine 2017

in Economic Climate

Companies ranked in the INC. 5000 fastest-growing private companies that call Dallas/Fort Worth home.

UNEMPLOYMENT RATE

3.9% 185

0%STATE & LOCAL

INCOME TAX RATE

Number of residents added to the region between 2010 and 2014

W O R K E R S

Projected population of the region by 2021

4th LARGEST WORKFORCE IN AMERICA

3.7 MILLION

From 2017 to 2021, DFW is projected to add 516,986 residents

and 139,649 new jobs, both are the highest forecast total in the

entire U.S., according to Oxford Economics.

Unemployment rate of 3.9%, adding over 96,700 jobs in

the last 12 months

ULI’s Emerging Trends “#2 Top Market to Watch” in 2017

One of the largest concentrations of corporate headquarters

in the country and has recently attracted a notable list of

expansions and relocations spanning several diverse industries

Forbes recently ranked Texas #1 in Economic Climate out of all

50 states

225+NON-STOP

DESTINATIONS

serviced approximately 65,670,697 passengers in 2016.

serviced 15,562,738 passengers in 2016 and is home to Southwest Airlines

#1528,000

7,873,019

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HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] 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.

2323 Victory Avenue, Suite 1200

Dallas, TX 75219

Telephone: 214-265-0880

Facsimile: 214-265-9564

hfflp.comIf you have any questions or require additional information, please contact the individuals below.

ADAM HERRIN Managing Director | [email protected] | 469.232.1922

STEPHEN BAILEY Director | [email protected] | 469.232.1992

MATTHEW WHEELER Analyst | [email protected] | 469.232.1973

ADDIT IONAL INFORM AT ION

HFF DEBT CONTACTSJEREMY SAIN Managing Director | [email protected] | 469.232.1904

MICHAEL GEORGE Director | [email protected] | 469.232.1906

F INANCIAL OVE RV IEWRENTABLE AREA: 48,803 SF

PERCENT LEASED: 100%

YEAR 1 NOI: $411,000

M ARKET LE AS ING EXPERT ALEX PAYNE Leasing Contact | [email protected] | 940.891.2947

1500 INTERSTATE 35W