Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to offer for sale 211 West Pleasant Run Road located in the town of Lancaster, Texas. The property has approximately 12,869 square feet of rentable space and is currently vacant. 211 Pleasant Run Rd was built in 1984 and recently renovated in 2019/2020. Pleasant Run presents an investor or owner/user with a prime opportunity to acquire an updated multi-tenant office building in Dallas/Fort Worth (DFW), the nation’s leading commercial market. With the Lancaster submarket vacancy rate of 7.2 percent for general office, an incoming investor should be looking to take advantage of the recent renovations and anticipate an estimated four to six months of leasing marketing to bring the property to stabilization at approximately 90 percent occupancy. Many of the existing office inventory in the surrounding area were not recently renovated or improved, so this property presents the unique opportunity to offer a higher level of comparative finish out. An owner/user should be looking to take advantage of the economic and population growth that DFW has seen and, more specifically, Lancaster’s unique focus today on freight rail services, transportation-related industries, light manufacturing, distribution, and retail sectors with an anticipated annual employment growth of 3.52 percent. Along with the above sectors, Lancaster has seen a recent explosion in residential development and has an anticipated population growth over the coming years. With a 15-minute commute to downtown Dallas, Lancaster is well positioned for ease of access to the Dallas area with Interstates 20, 35, and 45 adjacent to or in the community. The single-tenant office building is conveniently located adjacent to U.S. Highway 342, with excellent visibility and easy access to the property. The subject property benefits from strong demographics, serving a five-mile population of approximately 45,284 residents with a one-mile average household income exceeding $75,411.