Investment Overview

Marcus & Millichap is pleased to present the analysis for The Glo Building in Deep Ellum, located at 3710-3712 Commerce Street, Dallas, Texas. The subject property is a recently renovated multi-tenant creative office/retail asset featuring two tenants with a staggered lease turnover. The leases in place are both NNN, with a net operating income of $301,504 and upcoming annual increases. The subject property is well-situated in the highly desirable urban Dallas submarket of Deep Ellum and features a rare on-site parking lot area. The property is well-positioned within this submarket as new construction and class-A national credit tenants continue to fill out Deep Ellum. The Dallas-Fort Worth metroplex is widely considered one of the top commercial real estate markets in the United States and one of the fastest-growing submarkets in the entire country. Notably a top job market, the Dallas-Fort Worth metroplex features 24 Fortune 500 company headquarters, eight Fortune Global 500 headquarters, and 49 Fortune 1,000 headquarters. The Metroplex has also ranked as the top market for year-over-year job growth, adding over 132,000 jobs in the past 12 months, a 3.3 percent annual increase. The city of Dallas has also gained tremendous press lately with the recent introduction of the Texas Stock Exchange, which is backed by several Wall Street investment groups such as Black Rock, Citadel Securities, and many more. With the massive influx of corporate relocations of Fortune recognized companies and job growth, this has driven a tremendous amount of new residents to the Metroplex, further driving the need for additional housing and retail establishments to sustain this increased demand.