|Number of units||246|
Jones Lang LaSalle Americas. Inc. or its state-licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in Galleries at Park Lane (the “Property”) located in Dallas, TX. Built in 2016, the 246-unit apartment community presents an exceptional opportunity to acquire an asset located in a vibrant mixed-use environment. Positioned along US-75 with more than 200,000 cars passing daily and across from NorthPark Center, the Property is located in one of the most visible sites in the city.
TRULY UNIQUE & IRREPLACABLE, CLASS “A” ASSET
Galleries at Park Lane is a unique asset with two different residential experiences between the two buildings. Residents living in Block G enjoy a mid-rise podium build with high-end finishes, whereas Block E residents delight in the luxury of a high-rise environment with best-in-class finishes and features. The Property offers state-of-the-art luxurious community and apartment amenities in an extraordinary location along I-75 across from NorthPark Center. Residents at Galleries at Park Lane have access to two state-of-the-art fitness centers, a fully equipped CrossFit room, peloton bikes, and a golf lounge with a full-sized simulator. Additionally, the asset is offered at a significant discount to replacement cost.
PARK LANE’S MIXED-USE ENVIRONMENT
Positioned in one of the best retail locations in Dallas, Galleries at Park Lane offers residents unparalleled access to a true live/work/play environment. Spanning 33 acres, Shops at Park Lane offers a unique mix of nationally recognized retailers, boutique local shops, and diverse dining destinations. Boasting a “Very Walkable” score of 85, the Property immerses its residents in the vibrant mixed-use atmosphere of Park Lane. Immediately across I-75, and only half a mile from the Property is NorthPark Center. With more than 200 stores and restaurants, the shopping center is one of the finest in the world hosting more than 26 million visitors per year.
EXTRAORDINARY VISIBILITY AND STRONG CORPORATE LOCATION
The Property is afforded excellent access and visibility as it is positioned along US-75 with over 200,000 cars passing daily providing convenient access to the northern submarkets of McKinney, Plano, Richardson, and the Dallas-LBJ Corridor, and the southern markets of Uptown and Downtown Dallas. Within the northern submarkets are 3 Fortune 500 company headquarters and 7 Fortune 100 company headquarters, some of which include J.C. Penney, Cinemark Holdings, Globe Life and Texas Instruments. Within the southern markets there are 8 of the 24 Fortune 500 company headquarters in the DFW area including AT&T, Energy Transfer, HollyFrontier and more. As a result of economic growth and corporate relocation, the Dallas-Plano-Irving Metropolitan area led all metro areas in Texas in employment growth by adding 18,200 jobs in July 2021 and 172,300 jobs annually.