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Office

Highland Village Retail & Office Center

2300 Highland Village Rd, Highland Village, TX 75077

Listing Price: Request For Offer

Gross SF
59,333
Rentable SF
59,333
Lot Size
6.86 acres
Year Built
1999

Investment Overview

Highland Village Retail & Office Center is a mixed-use office and retail complex, consisting of nine, primarily two-story buildings constructed in 1999 in Highland Village, Texas. The complex was built on 6.86 acres just two miles east of Highway 35E via Justin Road. The subject property features 59,333 square feet with 6.42 parking per 1,000 rentable square feet. Highland Village Retail & Office Center is currently 84 percent leased with an average rent of $16.76 per square foot providing ample opportunity to increase income by filling the vacant space and enjoying the increase of the current market rents as the leases roll over. Highland Village is a growing, affluent city in Denton County with an expected population increase of 8.6 percent over the next five years. Fantastic financial demographics support the retail side of this offering, with an average household income of $185,670 within one mile of the subject property. The city of Highland Village consistently ranks in D Magazine’s 10 best suburbs and hosts several festivals throughout the year, including their famous Balloon Festival. The majority of the homes in the area are custom built with a number of lakefront and resort styles on Lewisville Lake. The recent expansion of Highway 35E to 18 lanes with four lanes serving as managed HOV lanes, eight main lanes (four each way) and six service lanes (three in each direction) rebuilt the entire 28-mile corridor from LBJ to Lewisville Lake. Highway 35E is accessed from the subject property via Justin Road (Highway 407) and is expected to improve access to all of Lewisville including the subject property.

Investment Highlights

  • Best Offer
  • 84 Percent Current Occupancy With Extremely High Tenant Retention Rate And Improving Rent Roll
  • Great 6.42 per 1,000 Square Feet Parking Ratio
  • Expected Population Growth of 8.6 Percent Over the Next Five Years
  • Average Household Income of $185,670 Within Two Miles of Highland Village Retail & Office Center
  • Substantially Below Replacement Cost
  • Over $1 Million of Capital Improvements in the Last Few Years Including
  • Phoenix Partners Medical Space Over $220,000 in Updates

Exclusively Listed By

Office

Highland Village Retail & Office Center

Listing Price: Request For Offer

Gross SF
59,333
Rentable SF
59,333
Lot Size
6.86 acres
Year Built
1999

Investment Highlights

  • Best Offer
  • 84 Percent Current Occupancy With Extremely High Tenant Retention Rate And Improving Rent Roll
  • Great 6.42 per 1,000 Square Feet Parking Ratio
  • Expected Population Growth of 8.6 Percent Over the Next Five Years
  • Average Household Income of $185,670 Within Two Miles of Highland Village Retail & Office Center
  • Substantially Below Replacement Cost
  • Over $1 Million of Capital Improvements in the Last Few Years Including
  • Phoenix Partners Medical Space Over $220,000 in Updates

Investment Overview

Highland Village Retail & Office Center is a mixed-use office and retail complex, consisting of nine, primarily two-story buildings constructed in 1999 in Highland Village, Texas. The complex was built on 6.86 acres just two miles east of Highway 35E via Justin Road. The subject property features 59,333 square feet with 6.42 parking per 1,000 rentable square feet. Highland Village Retail & Office Center is currently 84 percent leased with an average rent of $16.76 per square foot providing ample opportunity to increase income by filling the vacant space and enjoying the increase of the current market rents as the leases roll over. Highland Village is a growing, affluent city in Denton County with an expected population increase of 8.6 percent over the next five years. Fantastic financial demographics support the retail side of this offering, with an average household income of $185,670 within one mile of the subject property. The city of Highland Village consistently ranks in D Magazine’s 10 best suburbs and hosts several festivals throughout the year, including their famous Balloon Festival. The majority of the homes in the area are custom built with a number of lakefront and resort styles on Lewisville Lake. The recent expansion of Highway 35E to 18 lanes with four lanes serving as managed HOV lanes, eight main lanes (four each way) and six service lanes (three in each direction) rebuilt the entire 28-mile corridor from LBJ to Lewisville Lake. Highway 35E is accessed from the subject property via Justin Road (Highway 407) and is expected to improve access to all of Lewisville including the subject property.

Exclusively Listed By

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