Titan Vanguard is under contract to acquire a stabilized,57,401 square feet, 88% occupied, multi-tenant office building in Dallas, TX. The property is in a great location on the Dallas North Tollway in the Quorum/Bent Tree submarket. This location is in an affluent neighborhood with great access on the Tollway to the northern suburbs or south towards downtown Dallas. This is one of the strongest locations for office space in Dallas.
- Titan Vanguard owns another office building nearby that has performed really well over the last few years.
- We plan to use the same marketing strategy and leasing team on this asset. We have cracked the code on marketing to drive leads and a highly responsive leasing team to close new tenant leases to keep our buildings occupied.
- Our leasing team has its offices in this building and is investing in the deal.
- Due to the strong location in Dallas, we are already seeing rents increase on renewals and expansions, which will increase net operating income.
For our Investors:
- Targeting 7% annual cash flow
- 18-20% IRR
- 3-5 year hold period
- Depreciation flow through to investors
In addition:
- The leasing team is in discussions with two existing tenants who would like to expand within the building, which would increase occupancy above 90% and would increase investor returns further.
We have equity commitments and are raising $500k of additional equity.
Our leasing team has been seeing strong leasing activity in the market. This article in the Dallas Morning News last week confirms that leasing activity has picked up in Q1 2022. We believe this is a great time to purchase office real estate in great locations.
