Wolfpack Brochure - Greenhill Towers Garden Building Brochure

GREENHILL PARK

INVESTMENT OVERVIEW

HFF, L.P. has been exclusively retained by the Owner to offer qualified investors the opportunity to purchase Greenhill Park (the “Property”). The Property, developed in 1986 by Trammell Crow Company, is a 249,753 square foot office development located in the North Dallas suburb of Addison at the intersection of Midway Road and Spring Valley. Greenhill Park is positioned within the Far North Dallas office market, which led Dallas / Ft. Worth in net absorption in 2014 totaling over 1.15 million square feet.

At 42% occupancy, Greenhill Park represents one of the few remaining value-add opportunities in the Far North Dallas market. Its attractiveness is enhanced by:

• Class A construction quality

• Recent history of success (occupancy reached 84% as recently as first quarter 2011)

• Vibrant and improving neighborhood

• Presence in the Far North Dallas / Quorum Bent Tree submarket

• Nearing completion of the LBJ Express Project

PROPERTY OVERVIEW

Address: 14131-35 Midway Road

Addison, TX 75001

Rentable Area: Tower RSF: Garden Building RSF: 203,204 46,549 Total RSF: 249,753

Percentage Leased:42.2%

Year Built: 1986

Stories: 12

Site: 5.18 acres

Parking: Six-level parking garage directly beneath the tower (four levels above grade, two levels below grade)

Parking Ratio: 755 parking spaces 3.0 per 1,000 square feet

INVESTMENT highlights

NORTH DALLAS LOCATION

Greenhill Park enjoys a location at the intersection of Spring Valley and Midway Road adjacent to The Greenhill School, one of the largest, most prestigious private schools in Dallas. Located in Addison, a vibrant city immediately north of Dallas, the Property is situated under 1.5 miles from the Dallas North Tollway and proximate to some of Dallas’ premier developments including the Galleria Dallas, Village on the Parkway, Lincoln Centre, and Addison Circle. The location also offers excellent access to DFW International Airport, Dallas Love Field, as well as the city’s premier residential areas – Park Cities, Preston Hollow, Bent Tree, and Glen Abbey Estates.

LBJ FREEWAY ACCESS

In addition to its proximity to the Dallas North Tollway, the Property offers convenient access to LBJ Freeway (I-635) via the Midway Road exit (1 mile from the Property) and is poised to benefit greatly from the completion of the LBJ Express Project. Stretching from North Central Expressway to Stemmons Freeway, the $2.7 billion project encompasses the reconstruction of one of the most heavily traveled highways in North Texas. When complete in 2016, it will provide improved mobility in the area by almost doubling the existing roadway capacity from 270,000 vehicles per day to 500,000 vehicles per day.

INVESTMENT HIGHLIGHTS

IMPROVING MARKET FUNDAMENTALS

Greenhill Park is positioned to experience near term growth in absorption and rental rates due to the tightening of the Far North Dallas submarket and neighboring markets including Richardson / Plano, Las Colinas and Preston Center. In the past several quarters, occupancy levels and rental rates in these markets have grown to historic highs. In addition to tenants being priced out of these markets, larger tenants will have trouble finding available space to lease and will also be pushed towards the Quorum / Bent Tree and West LBJ Freeway submarkets (the two submarkets Greenhill Park competes within). Evidence of this tightening in the Property’s submarket can be seen in the 620,000 square feet of net absorption since first quarter 2014 accompanied with a 4.8% increase in rental rates over the same time period.

DFW ECONOMIC OVERVIEW

Per Moody’s Analytics, the Dallas / Fort Worth market is one of the most diverse economies in the United States ranking above the gateway markets of Boston, Los Angeles, San Francisco, and New York City. The January 2015 unemployment rate of 4.4% in the Dallas / Fort Worth area continues to be well below the national average of 6.1%. In 2014, Dallas / Fort Worth ranked first in both percentage growth (4.36%) and absolute growth with 144,920 new jobs. From 2013 to 2018, the Dallas / Fort Worth MSA is expected to rank first in both population and job growth, according to Moody’s Economy.com.

PROJECTED YoY POPULATION

PROJECTED YoY EMPLOYMENT