Las Colinas Commons is a three-building office portfolio situated in the improving Dallas submarket of Las Colinas, a 12,000-acre master-planned, mixed-use development that is headquarters to dozens of Fortune 500 and multinational corporations.  Proximity to the Dallas/Fort Worth International Airport has driven historically strong demand for Class A office space in the area. By implementing physical plant and aesthetic improvements and a new, more aggressive leasing program, the ability to accelerate lease-up and stabilize these assets should be enhanced.

Las Colinas Commons’ three office buildings benefit from long-term and credit-worthy tenancy. When purchased in December 2006, 67 percent of rentable space was leased to four tenants with leases through 2013 and beyond. The primary tenant at 1555 West Walnut Hill is First Horizon Home Loan Corporation, one of the largest lenders and loan servicers in the United States.

The buildings were separately constructed between 1979 and 2002 and have had interim renovations.  Plans are to make extensive upgrades to physical components, including the roofs and heating and air conditioning systems, as well as to renovate lobbies, elevators and landscaping to further enhance the development's appeal.

The assets enjoy an advantageous location with convenient access to both DFW Airport and Dallas Love Field, homes to American Airlines and Southwest Airlines, respectively.  Important centers of business, including the Dallas central business district and the affluent Far North Dallas submarket, are easily reached via the network of major roads surrounding the buildings. And numerous retail, restaurant, and entertainment venues are in proximity to the buildings.

Property Highlights:

• Centrally located 17.2-acre site surrounded by corporate headquarters
• Abundant telecommunications services and educated workforce resources
• Excellent access to freeways and major airports