Skip to main content

Miscellaneous

Sleep Number | Generational Investment Opportunity - Irreplaceable Infill Dallas Real Estate

8421 Preston Rd, Dallas, TX 75225

Listing Price: $7,046,168

Cap Rate
4.75%
Tenant Name
Sleep Number
Years Remaining On Lease
5.8
Gross SF
2,983
Guarantor
Corporate Guarantee
Rentable SF
2,983
Price/Gross SF
$2,362.11
Lease Type
Double Net
Rent Per Square Feet
$112.20

Investment Overview

Dallas is a major city in the state of Texas and is part of the Dallas-Fort Worth-Arlington Metropolitan Statistical Area, which is considered to be the fourth most populous Metropolitan area in the US. Dallas is the commercial and cultural hub of the MSA, and has become the epicenter of numerous corporate headquarters and large regional offices. Dallas continues to expand exponentially, recently being named the 10th largest growing area in the U.S. The region added 130,100 residents in 2019, more than any other metropolitan area in the country. Population and employment growth has driven demand for office space in Dallas-Fort Worth. The region’s competitive cost of living, accessibility, and highly educated workforce have made it a hotbed for corporate relocations and expansions. The city features numerous national sporting teams including NFL Cowboys, MLB Rangers, NBA Mavericks, and NHL Stars. Dallas reputedly has more retail stores and restaurants per capita than any other place in the country. Officially designated as Dallas–Fort Worth–Arlington by the U.S. Office of Management and Budget, the Dallas–Fort Worth metroplex is a conurbated metropolitan statistical area in the U.S. state of Texas encompassing 11 counties. Colloquially known as DFW or the Metroplex, the metro is the economic and cultural hub of North Texas.

Investment Highlights

  • Irreplaceable Infill Real Estate in Dallas - Corporate Backed Lease Featuring 10% Rental Increases at Each Option. Future Re-Development Opportunity in Highly Desirable Tract of Land.
  • Complete Interior and Exterior Renovation Including New Roof with 20 Year Warranty in 2017. Positioned Along Area's Major Traffic, Office & Retail Corridor - Signalized Hard Corner Location
  • Indefinite Brand Opportunity Location Given Exposure to 73k+ Vehicles Per Day at One of the Most Affluent Intersections in Texas.
  • Located within the Most Affluent Neighborhoods in the Nation with an Average Household Income of more than $189k within a 1-Mile Radius. Densely Populated Area: 414k+ People Residing within a 5-Mile Radius.
  • Preston Center is considered an Iconic Shopping and Dining Destination, the Area has Evolved into a Premier Retail Center in Dallas since its Development in the 1950's.
  • Within One of the Top Office Submarkets with Average Rent & Occupancy Rates that are Among the Highest in the Dallas-Fort Worth Metro. Average Home Values Over $1.2 Million in a 1-Mile Radius.
  • Located at the Gateway to the Perennial Preston Center, Walking Distance to 4 Million+ SF of Office, 800,000+ SF of Retail & Restaurant GLA & 4-Star Hotel. The Property Benefits from a Highly-Walkable Location in One of the Most Desirable Mixed-Use Urban Areas in the City.
  • Sleep Number Corporation (570+ Locations Across the Nation) & Publicly Traded on NASDAQ (SNBR) with Over $2.18 Billion Revenue in 2021. Strong Daytime Employment Area - The Large Daily Work Crowd and Adjacent Affluent Neighborhoods provide Significant Daily Traffic for the Retail and Restaurants in Preston Center.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s) TX: 0606255

    Texas

Financing By

Miscellaneous

Sleep Number | Generational Investment Opportunity - Irreplaceable Infill Dallas Real Estate

Listing Price: $7,046,168

Cap Rate
4.75%
Tenant Name
Sleep Number
Years Remaining On Lease
5.8
Gross SF
2,983
Guarantor
Corporate Guarantee
Rentable SF
2,983
Price/Gross SF
$2,362.11
Lease Type
Double Net
Rent Per Square Feet
$112.20

Investment Highlights

  • Irreplaceable Infill Real Estate in Dallas - Corporate Backed Lease Featuring 10% Rental Increases at Each Option. Future Re-Development Opportunity in Highly Desirable Tract of Land.
  • Complete Interior and Exterior Renovation Including New Roof with 20 Year Warranty in 2017. Positioned Along Area's Major Traffic, Office & Retail Corridor - Signalized Hard Corner Location
  • Indefinite Brand Opportunity Location Given Exposure to 73k+ Vehicles Per Day at One of the Most Affluent Intersections in Texas.
  • Located within the Most Affluent Neighborhoods in the Nation with an Average Household Income of more than $189k within a 1-Mile Radius. Densely Populated Area: 414k+ People Residing within a 5-Mile Radius.
  • Preston Center is considered an Iconic Shopping and Dining Destination, the Area has Evolved into a Premier Retail Center in Dallas since its Development in the 1950's.
  • Within One of the Top Office Submarkets with Average Rent & Occupancy Rates that are Among the Highest in the Dallas-Fort Worth Metro. Average Home Values Over $1.2 Million in a 1-Mile Radius.
  • Located at the Gateway to the Perennial Preston Center, Walking Distance to 4 Million+ SF of Office, 800,000+ SF of Retail & Restaurant GLA & 4-Star Hotel. The Property Benefits from a Highly-Walkable Location in One of the Most Desirable Mixed-Use Urban Areas in the City.
  • Sleep Number Corporation (570+ Locations Across the Nation) & Publicly Traded on NASDAQ (SNBR) with Over $2.18 Billion Revenue in 2021. Strong Daytime Employment Area - The Large Daily Work Crowd and Adjacent Affluent Neighborhoods provide Significant Daily Traffic for the Retail and Restaurants in Preston Center.

Investment Overview

Dallas is a major city in the state of Texas and is part of the Dallas-Fort Worth-Arlington Metropolitan Statistical Area, which is considered to be the fourth most populous Metropolitan area in the US. Dallas is the commercial and cultural hub of the MSA, and has become the epicenter of numerous corporate headquarters and large regional offices. Dallas continues to expand exponentially, recently being named the 10th largest growing area in the U.S. The region added 130,100 residents in 2019, more than any other metropolitan area in the country. Population and employment growth has driven demand for office space in Dallas-Fort Worth. The region’s competitive cost of living, accessibility, and highly educated workforce have made it a hotbed for corporate relocations and expansions. The city features numerous national sporting teams including NFL Cowboys, MLB Rangers, NBA Mavericks, and NHL Stars. Dallas reputedly has more retail stores and restaurants per capita than any other place in the country. Officially designated as Dallas–Fort Worth–Arlington by the U.S. Office of Management and Budget, the Dallas–Fort Worth metroplex is a conurbated metropolitan statistical area in the U.S. state of Texas encompassing 11 counties. Colloquially known as DFW or the Metroplex, the metro is the economic and cultural hub of North Texas.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s): TX: 0606255

    Texas

Financing By

MM Texture Background
MM Textured Background Lower