EASTSIDE ATRIUM
800 E. CAMPBELL RD. RICHARDSON, TEXAS
PROPERTY SUMMARY
The Opportunity
Colliers International is pleased to exclusively offer to qualified investors the opportunity to purchase 800 E. Campbell Road (“Eastside Atrium”), an approximate 129,362 square foot, Class A, multi-tenant, three-story office building located in Richardson, Texas.
Built in 1983, and recently updated from 2014 - 2019, this premier office destination offers best in class amenities, including a state-of-the-art atrium, on-site deli, covered parking, and updated common areas.
The approximate 7.1-acre site offers convenient accessibility and frontage to US 75 (Central Expressway), as well as walkability to public transportation (DART, DART RAIL) and an abundance of restaurant, retail, hotel and upscale multi-family options that exceed most urban office locations. Eastside Atrium’s strategic location provides proximity to Downtown Dallas and both commercial airports (DFW – American Airlines headquarters and Love Field – Southwest Airlines headquarters) as well as abundant executive and employee residential options. ASSET
BUSINESS PLAN
At 87.7% occupancy, Eastside Atrium provides in-place cash flow and a value-add opportunity via immediate lease up of current vacancy and renewal of tenants at today’s higher market rental rates, while benefitting from recent updates and extensive capital expenditures. Located in the heart of Richardson and the surrounding high economic growth of the Dallas MSA, Eastside Atrium is poised to continue upward trajectory for investors seeking stability and predictable returns with a diverse tenant roster, combined with upside and increasing rental rates with property appreciation and strong macro fundamentals.
RICHARDSON INNOVATION QUARTER
87.7% OCCUPANCY 4.0/1,000 PARKING RATIO IN-PLACE CASH FLOW WITH UPSIDE
3 STORIES
LIVE/WORK/PLAY WALKABLE AMENITIES
DIVERSE TENANT ROSTER MINIMAL NEAR-TERM CAPEX NEEDS
UPDATED EXTERIOR, LOBBY AND COMMON AREAS THROUGHOUT
RICHARDSON INNOVATION QUARTER
Eastside Atrium is located near Richardson’s premier tech hub, a 1,200-acre innovation district that recently received a new name and fresh identity, The Richardson Innovation Quarter (“Richardson IQ”). This site recently approved rezoning for higher density development and opened its door for mixeduse redevelopment projects. The hope is that, instead of investing in one major company, it can focus efforts on attracting numerous smaller companies that will become leading institutions, putting Eastside Atrium in the heart of economic growth.
COLLIERS | PG. 2
PROFILE 800 E. CAMPBELL ROAD RICHARDSON, TX 75081 ± 129,362 SQUARE FEET VALUE-ADD OPPORTUNITY
Investment Highlights
DISTINGUISHED ASSET AT US 75 (CENTRAL EXPRESSWAY) AND CAMPBELL WITH EXCEPTIONAL INGRESS AND EGRESS
LOCATED AT THE CENTER OF DFW’S PREMIER TECH HUB – THE RICHARDSON INNOVATION QUARTER (RICHARDSON IQ)
BUILT IN 1983, AND RECENTLY UPDATED FROM 2014-2019
STATE OF THE ART ATRIUM, UPDATED COMMON AREAS, AND A MODERN EXTERIOR FAÇADE
PROXIMITY TO DOWNTOWN DALLAS AND BOTH COMMERCIAL AIRPORTS (DFW – AMERICAN AIRLINES HEADQUARTERS AND LOVE FIELD – SOUTHWEST AIRLINES HEADQUARTERS)
LIGHT MARK-TO-MARKET OPPORTUNITY AS TENANTS EXPIRE APPROXIMATELY 10-15% BELOW MARKET
DYNAMIC “LIVE, WORK, PLAY” LOCATION WITH AN ABUNDANCE OF RESTAURANT, RETAIL, HOTEL, AND UPSCALE MULTI-FAMILY OPTIONS
WALKABILITY TO PUBLIC TRANSPORTATION (DART, DART RAIL)
COLLIERS | PG. 3
BUILDING AMENITIES
4.0/1,000 PARKING RATIO
COVERED PARKING
UPDATED LOBBY AND COMMON AREAS
ON-SITE CAFE
The Collins/Arapaho hub of Richardson unveiled the rebranding of the area and will now be called the “Richardson Innovation Quarter,” or “The IQ” for short. This premier tech hub has a new name, logo, and new zoning code, which paves way to promote, modernize, and revitalize that part of Richardson.
LIVE WORK INVENT
STATION AREA
POTENTIAL STATION AREA DEVELOPMENT AND GREENVILLE AVENUE REDESIGN
1,200 ACRE AREA
2020
REBRAND OF RICHARDSON IQ
PREMIER TECH HUB
19,000 PEOPLE EMPLOYED OVER 1,000 BUSINESSES
BRAND NEW NAME, LOGO AND ZONING CODE
CENTER FOR ENTREPRENEURSHIP AND COLLABORATION
• Encourages public and private investment
CONTAINS OVER 50% OF RICHARDSON BUSINESSES
ACROSS FROM ARAPAHO DART RAIL STATION
• Modeled after highly successful projects in Barcelona, Boston, and other cities around the world.
• Brings together public and private resources
COLLIERS | PG. 5
“What we’ve done is basically taken the handcuffs off the landowners here,” Mayor Paul Voelker said. “We’ve allowed them to decide what the market conditions and opportunities are.”
INNOVATION QUARTER COMPANIES WITH OFFICES/LOCATIONS
GREENVILLE
EASTSIDE ATRIUM
E Campbell Rd NGreenvilleAve CentralExpy 190 STEM CORRIDOR Eastside Atrium Prairie Creek Park Central Trail Post Eastside 442 Multifamily Units Eastside Atrium located within the Richardson Innovation Quarter Canyon Creek Median Home Value: $410,946 Shops at Eastside 10 Restaurants
Central Trail Central Trail ECampbellRd N Greenville Ave Central Expy WCampbellRd Eastside Atrium located within the Richardson Innovation Quarter Country Club 30 RESTAURANTS 5 FITNESS CENTERS Eastside Atrium Post Eastside 442 Multifamily Units Canyon Creek Median Home Value: $410,946 Shops at Eastside 10 Restaurants
Property Specifications
PROPERTY ADDRESS
800 E. CAMPBELL ROAD RICHARDSON, TX 75081
BUILDING SIZE ± 129,362
SQUARE FEET SITE 7.1 ACRES
YEAR BUILT/RENOVATED
1983/2014-2019
NUMBER OF FLOORS 3
TYPICAL FLOORPLATE
41,600
RENTABLE SQUARE FEET PARKING 527
TOTAL PARKING SPACES 4.0:1,000 PARKING RATIO
COLLIERS | PG. 10
EASTSIDE ATRIUM
PROPERTY SUMMARY
Exclusive Marketing Advisors
Creighton Stark
+1 214 706 6029 creighton.stark@colliers.com
Chris Boyd
+1 214 706 6047 cl.boyd@colliers.com
Madeleine Supplee
+1 214 706 6045 madeleine.supplee@colliers.com
Mark Knowles +1 214 217 1210 mark.knowles@colliers.com
Johanna Ramirez +1 214 706 6048
johanna.ramirez@colliers.com
Acquisition Financing Advisor
Jeremy Thornton +1 415 288 7840
jeremy.thornton@colliers.com
1717 McKinney Avenue, Suite 900 Dallas, TX 75202 www.colliers.com