- Updated On:
- October 18, 2021
Located in Irving, Texas at the southeast corner of East Royal Lane and Colwell Boulevard in the premier Las Colinas Office Market which is just 8 miles from Dallas and 25 miles from Fort Worth in Irving.
The Property is comprised of 3 mixed-use buildings consisting of two, 2-story, Class-B garden office buildings and one, 1-story industrial building, totaling 341,229 square feet, situated on 18.2 acres in the master planned development known as the Dallas Communications Complex, a multimillion-dollar film production center that has been the site for the filming of several major motion pictures and television specials.
The development features a strategic location with exceptional regional access, located within five minutes of State Highway 114, State Highway 161 and Interstate 635. 100 East Royal is also convenient to major thoroughfares such as Northwest Highway, MacArthur Boulevard and O’Connor Boulevard. As a result, the Property is just a 30-minute commute from a well-educated, diversified workforce of 3.1 million people and numerous centers of commerce including downtown Dallas and downtown Fort Worth. The properties are also less than five minutes east of the Dallas/Fort Worth International Airport—the world’s third busiest airport.
Las Colinas Office Market:
The Las Colinas office market contains more than 33.7 million square feet of both single- and multi-tenant product among 233 buildings. The Class A market has experienced stronger market fundamentals over the past four years including a significant increase in net absorption and leasing activity which totaled 1.8 million square feet in 2008 alone. Leasing activity among Class B properties in Las Colinas has also increased recently with more than 1.5 million square feet during 2008 and another 218,000 square feet during the first quarter 2009. As a result of this demand, Class B asking rents have remained effectively unchanged over the past three quarters. The City of Irving, alongside the Greater-Irving-Las Colinas Chamber and the Las Colinas Association have used Las Colinas’ increasing market appeal among large regional, national, and international businesses to influence corporate relocations and in turn, increase retention rates. Additionally, Las Colinas’ system of deed restrictions, protective covenants and architectural controls preserves its impeccable quality and helps protect its property values. A detailed Las Colinas market summary for both single and multi-tenant office properties is shown below.