| Property Name: |
Bent Tree Green |
| Location: |
Dallas, Texas |
| Description: |
Bent Tree Green is an attractive office complex that is strategically located along the "Platinum Corridor" of North Dallas. The property was purchased well below replacement cost and presents an opportunity for significant value creation. Once plans for renovations and repositioning are completed and an aggressive leasing plan implemented, the property should compete more effectively for Class A tenants in this typically strong office rental market.
Bent Tree Green is comprised of two, three-story buildings that contain 138,448 square feet of rentable space. A common entrance serves both buildings, each of which features well-landscaped atriums. The property is situated on 3.4 acres fronting the Dallas North Tollway to the west and overlooking the Bent Tree Country Club golf course to the east. Of the available 432 parking spaces, more than 80 percent are underground. While overall submarket occupancy exceeds 80 percent, Bent Tree Green was 70 percent leased at the time it was purchased.
Significant interior and exterior renovations are planned for the property. These include enhancements to the heating and air conditioning systems as well as cosmetic improvements to the facade and entry aimed at increasing drive-up appeal.
The far North Dallas area surrounding Bent Tree Green is well known for its private country clubs, executive housing, high-end retailers, luxury hotels and elegant restaurants. The submarket boasts the world headquarters for FedEx/Kinko’s, Mary Kay Corporation, CompUSA and Tenet Healthcare as well as regional headquarters for JPMorgan Chase, Publicis USA and Yum Brands.
Property highlights:
• Exceptional location along the Dallas North Tollway, with easy access to I-635 nd I-190
• Five minutes from Addison Airport, the nation's third largest for general aviation
• Inviting views of landscaped atriums and golf course |
| Year Built: |
1983 |
| Asset Size: |
138,448 sq. ft. |
| Asset Submarket: |
Far North Dallas |
| Acquisition Date: |
December 2006 |
| Tenant Mix: |
Real Estate and Professional Services |
Investment of Behringer Harvard Fund(s): |
Opportunity REIT I, Inc. |