Overview
Younger Partners is pleased to offer qualified investors the opportunity to purchase
Collins Square (Property), an immaculately renovated low-rise office
asset at the heart of the Richardson Innovation District. The unassuming, four story
office building offers a desirable combination of secure income and upside
through leasing newly vacant office space. Comprised of 215,130 square feet of
freshly renovated space, the Property is 74% leased, of which 65% of the GLA is
occupied by Travelers Insurance (NYSE: TRV) through 2030. In addition to the
cash flow stability provided by the Travelers lease, Collins Square offers a compelling
value-add lift through new leasing efforts. A tenant in the building since
2002, Travelers mission critical occupancy was recently right-sized which
opened up functional office space that hasn’t been available in a decade. Ranging
in size from 3,000 to 20,000 square feet, the six vacant spaces should appeal
to a wealth of tenants seeking a quality office environment and value pricing.
Collins Square is located within the Richardson Submarket well known as the
Telecom Corridor. Home to a number of the world's largest technology and
telecommunications companies (Texas Instruments, Cisco, and Fujitsu Network
Communications) the area is well regarded by employers because of the abundant
supply of a qualified labor force. Despite being known for telecommunications,
a majority of the submarket’s office space is made up of healthcare and
insurance firms. The submarket provides a highly talented labor force with 55%
of the population holding a bachelor's degree or higher.
Collins Square benefits from direct access to all of the Dallas-Fort Worth
Metroplex via US-75 (334,000 VPD) and President George Bush Turnpike
(164,000 VPD). The area’s accessibility is also improved by four DART rail stations,
more than any other suburban office submarket in the metroplex.
Available at a sizeable discount to replacement cost, Collins Square has been
extensively renovated to limit the need for additional capital other than good
news dollars for new leasing.
Located on a large land parcel (13.146 acres), Collins Square has an unutilized
green space on the west side of the building that could possibly be utilized to
further expand the building’s parking capacity above the current 4.35/1,000
ratio.
Collins Square (Property), an immaculately renovated low-rise office
asset at the heart of the Richardson Innovation District. The unassuming, four story
office building offers a desirable combination of secure income and upside
through leasing newly vacant office space. Comprised of 215,130 square feet of
freshly renovated space, the Property is 74% leased, of which 65% of the GLA is
occupied by Travelers Insurance (NYSE: TRV) through 2030. In addition to the
cash flow stability provided by the Travelers lease, Collins Square offers a compelling
value-add lift through new leasing efforts. A tenant in the building since
2002, Travelers mission critical occupancy was recently right-sized which
opened up functional office space that hasn’t been available in a decade. Ranging
in size from 3,000 to 20,000 square feet, the six vacant spaces should appeal
to a wealth of tenants seeking a quality office environment and value pricing.
Collins Square is located within the Richardson Submarket well known as the
Telecom Corridor. Home to a number of the world's largest technology and
telecommunications companies (Texas Instruments, Cisco, and Fujitsu Network
Communications) the area is well regarded by employers because of the abundant
supply of a qualified labor force. Despite being known for telecommunications,
a majority of the submarket’s office space is made up of healthcare and
insurance firms. The submarket provides a highly talented labor force with 55%
of the population holding a bachelor's degree or higher.
Collins Square benefits from direct access to all of the Dallas-Fort Worth
Metroplex via US-75 (334,000 VPD) and President George Bush Turnpike
(164,000 VPD). The area’s accessibility is also improved by four DART rail stations,
more than any other suburban office submarket in the metroplex.
Available at a sizeable discount to replacement cost, Collins Square has been
extensively renovated to limit the need for additional capital other than good
news dollars for new leasing.
Located on a large land parcel (13.146 acres), Collins Square has an unutilized
green space on the west side of the building that could possibly be utilized to
further expand the building’s parking capacity above the current 4.35/1,000
ratio.
Key Facts
STABILITY WITH UPSIDE
STRENGTH IN NUMBERS
DON’T JUDGE A BOOK BY THE COVER
SELLER FINANCING
AMENITY-RICH LOCATION
EMPLOYMENT DESTINATION
RICHARDSON INNOVATION DISTRICT
WHY DALLAS
