Childress DALLAS CEDARS / INFILL Fabrics & INVESTMENT ... · growing area of Dallas, in a city with steady property demand, rental growth and appreciation. * Ownership will consider

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Childress Fabrics & Furniture 1910 S. Good Latimer Parkway, Dallas, TX 75226

DALLAS CEDARS / INFILL INVESTMENT

“QUALIFIED ECONOMIC OPPORTUNITY ZONE”

T A B L E O F C O N T E N T S

Executive Summary

Property Information

Market Overview

1910 S. Good Latimer Building

Located just outside Downtown Dallas and The Cedars, with easy access to two major freeways, the Property can offer significant long term benefits within a growing area of Dallas, in a city with steady property demand, rental growth and appreciation.

*Ownership will consider individual sale of either property.

The Childress property presents an opportunity to acquire a subtantial stake in the ongoing renaissance of Dallas’ premier, emerging marketplace.

E X E C U T I V E S U M M A R Y

T H E O F F E R I N G

The properties at S. Good Latimer Parkway represent a unique opportunity to acquire two (2) strong industrial/flex assets totaling approximately 57,000 square feet on over a combined two acres of land in an area primed for future development and growth*. The two lots contain air conditioned showroom space and parking. The larger land area (Tract 1) of the two separate lots can also command higher rents should the new owner prefer to reposition the existing buildings for another use.

S. GOOD LATIMER PKWY

HICKORY ST

FERRIS ST

Future SoGoodDevelopment

TRACT 1

±41,000 SF

±1.61 AC

TRACT 2

±16,850 SF

±0.65 AC

INVESTMENT SUMMARY

ADDRESS: 1910 S. Good Latimer Expressway, Dallas, TX 75226

OFFERING PRICE: Market Pricing

Property Size: Total Size ±2.26 AC

Building Sizes*: ±41,000 SF; ±16,850 SF per DCAD*

Lot Sizes*: ±1.61 AC (Lot 1); ±0.65 AC (Lot 2)*

Property Type: Industrial / Flex

Zoning: PD-317: Subdistrict 5, Industrial (Economic Opportunity Zone)

P R O P E R T Y / I N V E S T M E N T H I G H L I G H T S

Outstanding Urban Infill Location

Excellent Site Visibility on S. Good Latimer Expressway

Shared Access Entry with Ferris Street Frontage

Short-Term Tenant Lease Back

Existing Industrial Flex Building

*Per DCAD. Buyer to Verify.

Ability to “check the box” for Opportunity Zone protections by acquiring the Property at land value and putting minimal investment into the existingimprovements allowing the Property to qualify for the OZ while allowing a buyer flexibility in timing for a longer term future entitlement

Strong gentrification trends occuring to the North with ±2,400 residential units delivered, under construction or in the planning stages.

Ability to “check the box” for Economic Opportunity Zone and be in the growth path of Urban Dallas.

P R O P E R T Y D E S C R I P T I O N

E C O N O M I C O P P O R T U N I T Y Z O N E

S T R O N G G E N T R I F I C A T I O N T R E N D

ADDRESS: 1910 S. Good Latimer Expressway, Dallas, TX 75226

OFFERING PRICE: Market Pricing

PROPERTY SIZE: Total Size ±2.26 AC (Non-contiguous)

BUILDING SIZES*: Building 1 - Approximately ±41,000 SF of improvements, which includes approximately ±31,000 SF of air conditioned showroom space. Building 2 - ±16,850 SF

LOT SIZES*: Lot 1 - ±1.61 AC* Lot 2 - ±0.65 AC*

PROPERTY TYPE: Industrial / Flex

ZONING: PD-317: Subdistrict 5, Industrial (Economic Opportunity Zone)

FRONTAGE: ±295 ft along S. Good Latimer Expwy; ± ft along Hickory St; ±388 ft along Ferris St (NW Side); ±150 ft alone Ferris St (SE side)

YEAR BUILT: 1960 / 1958 and 1970

STORIES: One (1)

HVAC: Central/Partial AC; ±8 Roof Units

ROOF: New Roof on 1910 S. Good Latimer in 2017; Membrane Roofing over Metal Decking

CONSTRUCTION TYPE: C-Masonry Block; Tilt-wall; Brick

*Per DCAD. Buyer to Verify.

P R O P E R T Y S U M M A R Y

I N T E R I O R P H O T O S

S U R V E Y S

The Property is situated between The Cedars, Deep Ellum, Dallas Farmer’s Market and Downtown Dallas and promises to be the next area of development as the urban revival continues South of the Dallas CBD.

L O C A T I O N H I G H L I G H T S

• Area is Prime is Future Development Lots of new developments in and around the area of the property. Next area of development in the future.

• Expanding live-work-play environment Exceptional grownth and demographics of DFW, new multi-family and retail attracting more residents.

• Located in the booming Cedars/Future SoGood Neighborhood near Downtown Dallas

S. GOOD LATIMER PROPERTIES

Deep Ellum

Dallas Farmers Market

Downtown Dallas

Uptown

Future SoGood Development

The Cedars

Park CitiesMedical District

45

75

30


THE CEDARS/FARMERS MARKET OVERVIEWThe revitalization of The Cedars and the continuing development of the Farmers Market and the surrounding areas is continuing to add life to areas South of the Dallas CBD. Future additions like SoGood and the Taylor Lofts mixed-use developments are bringing more density. Improvements in connecting these neighborhoods to Downtown Dallas has become a priority. With live music venues, resturants, bars, and apartments catering to a variety of demographics, especially those who have been priced out of Deep Ellum and the Design District. Popular venues like The Shed, Gilley’s, Harvest Lofts and the new location of Four Corners Brewing, consistently draw people to these neighborhoods.

These areas have quickly become the next destination for local artists, entrpreneurs and local businesses as more commercial development pops up. It continues to draw interest from both users and investors.

HOTELS

CANVAS Dallas (formerly NYLO Southside), Lorenzo Hotel

ENTERTAINMENT

Southside Music Hall, Gilley’s Dallas, Alamo Drafthouse Cinemas Cedars, Four Corners Brewing,

The MAC Gallery, Dallas Heritage Village

RESTAURANTS

Rex’s Seafood, Mudhen, Taqueria La Ventana, Opening Bell Coffee, Checkered Past Winery, Lee Harvey’s, Off The Bone Barbeque, Cedars Social

S. GOOD LATIMER

PROPERTIES

45

30

Downtown Dallas



The Cedars

Deep Ellum

Uptown

Park Cities

75

30

Pure REIT (2016)340 Units

Spectrum (2017)240 Units

Camden FarmersMarket Apartments

ALTA (2016)313 Units

Baylor, Scott & WhiteMedical Center

Adams Hat

Novel Deep Ellum 230 Units

2019

The Case 337 Units

2018

The Crosby336 UnitsDec 2019


S. CESAR CH

AVEZ BLVD


Downtown Dallas OverviewNumerous redevelopment projects have revitalized Downtown Dallas and set the stage for development in the surrounding neighborhoods. In the last few years both Deep Ellum and the Cedars have seen significant growth.

Investors and developers targeting the CBD area are looking to appeal to the growing millennial workforce by increasing the amount of resident properties, incorporating office into mixed-use projects, and investing in urban-leisure projects such as the Farmers Market and Klyde Warren Park. They are trying the change the climate of the CBD to one where locals can work, live, eat, shop, and enjoy numerous amenities. The City of Dallas hopes to increase the city’s green space and transportation, making the city more environmentally efficient. In addition, they hope to create more venues for live entertainment so residents can enjoy an enhanced lifestyle while also generating income for future developments.

Deep Ellum OverviewDeep Ellum’s recent revitalization has made it a hot destination in Dallas with live music venues, resturants, bars, and apartments catering to a variety of demographics.

Just down the road from the subject property is The Epic, a new mixed-use development which Uber has chosen as the home to it’s future 450K SF Dallas offices, bringing over 3,000 employees to the neighborhood. with office space will help to bring more residents, visitors and businesses into the neighborhood.

Dallas Farmers Market OverviewNew multi-family apartments, and a revamp of the Farmers Market has drawn more people back to this neighborhood with its proximity to major highways, Downtown Dallas and Deep Ellum.

Trinity Groves

S . G O O D L A T I M E R

P R O P E R T I E S


The Cedars

45

30

Southside on Lamar

Lorenzo Hotel

S. GOOD LATIMER EXPY

S. CESAR CHAVEZ BLVD


Camden FarmersMarket Apartments

Spectrum (2017)240 Units

ALTA (2016)313 Units

Pure REIT (2016)340 Units

White Rock Lake

30

45

Deep Ellum


Fair Park

Future SoGood Development Site

Baylor, Scott & WhiteMedical Center

Adams Hat

Pure REIT 340 Units

Novel Deep Ellum 230 Units

2019

The Case 337 Units

2018

The Crosby336 UnitsDec 2019

David Glasscock

Senior Vice President+1 214 979 [email protected]

© 2019 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.

P L E A S E C O N T A C T :

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Childress DALLAS CEDARS / INFILL Fabrics & INVESTMENT ... · growing area of Dallas, in a city with steady property demand, rental growth and appreciation. * Ownership will consider

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