Value-Add Office Building in Richardson with Strong Cash-Flow

1701 Gateway Boulevard, Richardson, TX

Market Price

Price

61,006 sqft

Building Size

4.82 sqft

Lot Area

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Street
Map
Overview
Building Size
61,006 sqft
Lot Area
4.82 sqft
Occupancy
81%
Class
B
Lease Type
Modified Gross
Year Built
1980
Tenancy
Multiple
Floors
1
Investment Strategy
Value Add
Description

Colliers International has been exclusively retained to offer qualified investors the opportunity to purchase a beautiful two-building office complex located on 1701 and 1801 Gateway Boulevard in Richardson, Texas. University Centre is comprised of two (2) Class B single-story office buildings built in 1980 and recently renovated in 2016. The subject property is in impeccable physical condition and showcases incredible value-add opportunity for potential investors. The two-building office complex collectively measures 61,006 square feet and sits on a communal 4.82-acre lot offering tenants a better than market parking ratio of 6/1,000 square feet.

University Centre is located in Richardson near Canyon Creek Country Club and Prairie Creek Park. Surrounded by ambient trees, the single-story office complex provides convenient access to North Central Expressway and President George Bush Turnpike. Nestled prominently in the heart of the Telecom Corridor in the North East side of Richardson, University Centre is situated in an affluent suburb area of Dallas. Situated within the high growth Richardson and Plano submarket, the Property is in close proximity to single and multifamily housing developments, numerous retail and restaurant amenities, and regional transportation corridors. University Centre enjoys superb ingress and egress via Gateway Blvd, Campbell Road, and Collins Blvd, which is complimented with immediate access to US Highway 75 (Central Expressway) and US Highway 190 (George Bush Turnpike). The surrounding area has a dense population corridor with more than 407,500 people in a 5-mile radius and has experienced many new developments including State Farms new 2 million square foot regional campus and Raytheon’s new corporate facility.

Highlights
  • Beautiful Two-Building Office Complex Priced Well-Below Replacement Cost in a Major Urban Market
  • Value Add Opportunity with Great Cash Flow and Considerable Upside Potential
  • Strong Demographics in the Surrounding Area
  • Strong Historical Occupancy
Location
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