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PANHANDLE STUDIO B
CBCWORLDWIDE.COM
RECORDING STUDIO / OFFICE LEASE
FOR LEASE
PREPARED FOR:
Prepared By:VERUS Advisors 319 W Oak StDenton, TX 76201
Glen [email protected]
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TABLE OF CONTENTS
Executive Summary 3
Property Overview 4
Property Overview 5
Maps & Aerials 6
Nearby Amenities 7
Market overview 8
Demographics 9
Contact Information 10
Confidentiality Statement 11
©2017 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.
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EXECUTIVE SUMMARY
307 N Locust Denton, Texas 76201
THE PROPERTY
PROPERTY SPECIFICATIONS
PRICE
Property Type: Office
Class: B
Building Size: 20,000 SF
Land: 1.4 Acres
Number of Stories: 1
Year Built/Renovated: 1900/1995
Typical Floor Size: 20,000 SF
FAR:
Lease Price: $1,500.00 per month + NNN
Price/SF: $18 + NNN
MARKET HIGHLIGHTS
In the heart of booming downtown Denton. Join other local businesses, retailers and a variety of food and drink options in this exciting office opportunity
INVESTMENT HIGHLIGHTS
• Single story downtown studio• Parking availabe - RARE!• Beautiful finish out• Isolation booths wired for studio use• Beautiful lobby• Clean power • Fiber internet available
LOCATION HIGHLIGHTS
• Easy Access off S Locust• A block south of the square• Walkable distance from every anemity
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PROPERTY OVERVIEW
PROPERTY PHOTOS
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THE PROPERTY
Panhandle House Studio B307 N Locust StDenton, TX 76201
PROPERTY SPECIFICATIONS
Property Type: Office
Class: B
Building Size: 62,693 SF
Land: 2.8 Acres
Number of Stories: 3
Year Built/Renovated: 1900/1995
Typical Floor Size: 21,000 SF
FAR: 51
LOCATION INFORMATION
Single story office building on 1.4 acres. Property has 16 parking spaces; high-speed fiber; ; first floor lobby remodeled in 2004; 277/480 volt 1200 amp electric service; fiber optics in building.
PROPERTY DETAILS
Cross Street McKinney St
Located: W side, Mid Block
Business Park: Downtown
Land: Denton
Submarket: Downtown
County: Denton
LEASE INFORMATION
Tenancy: Multi Tenant
Percent Leased: 100%
Space Available: 1,000 SF, all space available May 2017
Annual Rent: $18/SF/NNN
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MAPS & AERIALS
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TAX MAP
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NEARBY AMENITIES
1 The Abbey Inn 101 W Hickory
2 Mellow Mushroom 217 E Hickory
3 Fuzzy’s Taco Shop 115 Industrial St
4 Pizza Snob 321 W Huickory St
5 Guiseppe’s Italian Restaurant 821 N Locust
6 Roosters Roadhouse 113 Industrial
7 Barley & Board 100 W Oak St
8 Hannah’s 100 W Oak St
9 Cartwright’s Ranch House 111 N Elm
10 LSA Burger Co. 113 W Hickory St
11 Greenhouse 600 N Locust
12 940’s 219 W Oak St
13 Seven Mile Cafe 529 Bolivar St
14 Queenie’s Steakhouse 115 E Hickory St
15 El Matador 720 W University Dr
16 The Bowellery 901 Avenue C #101
17 BJ’s Brewhouse 3250 Interstate 35 E
18 Bet The House BBQ 508 S Elm St
19 Andaman 221 E Hickory St
20 Johnny Carino’s 1516 Centre Pl Dr
21 J & J’s Pizza 118 W Oak St
RESTAURANTS
1 Wells Fargo 101 S Locust
2 DATCU 225 W Mulberry St
3 First State Bank 400 W Oak St
4 Northstar Bank 400 N Carroll Blvd
5 First United Bank 2730 W University
BANKS
1 University of North Texas 1155 Union Cir
2 Texas Women’s University 304 Administration Dr
UNIVERSITIES
1 US Post Office 101 E Mckinney St
POST OFFICES
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MARKET OVERVIEW
Downtown Denton is a booming market. Everyone in the county is swarming to the county seat to experience the excitment and inovation that is happening in the old historic center of town around the 150 year old courthouse.
Join a world renowned studio in a studio space of your own. Panhandle House recording has been the home to a wide range of national and international acts ranging from Cross Canadian Ragweed to Eagles.
Surrounded by a wide array of food and drink establishments, this space will keep your clients and employees happy and fed. Vacancy rates downtown are currently as low as 5%. Rates for office range from $18 per square foot to $23 per square foot on tripe-net leases.
This Office Market
Office: “New office development continues to proceed with caution,” Heartland Real Estate Business reports. “Currently, there is only 271,600 square feet of new office space under construction in the market.
However, large blocks of space—25,000 square feet or greater—continue to be in limited supply in the most desirable sub-markets, such as Clayton and West County. This lack of supply for large blocks will likely serve to catalyze future development.” That future may be far off, since even in Clayton, the three office projects in the pipeline are “in the conceptual stage.
Tony Novelly’s recent purchase of the former U.S. Title Building on Forsyth allows for the opportunity of a third tower adjacent to his existing holdings.
Koman Properties is marketing the northeast corner of Brentwood Boulevard and Forsyth for a new office tower, and Montgomery Bank has assembled an attractive parcel at the southeast corner of Forsyth and Central with plans for a major mixed-use tower.
Any one of these projects could proceed with the signing of a large tenant.”
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303 N Locust StDenton, TX 76201
Population 1-mi. 3-mi. 5-mi.Total Population 16,409 88,451 129,417Group Quarters Population 2,905 8,795 9,470Urban Population 16,409 87,278 124,784Rural Population 0 1,173 4,633Adult Population 14,703 74,491 104,129Ratio of Males to Females 0.93 0.96 0.96Female Population 8,519 45,189 65,962Male Population 7,891 43,263 63,454Land Area (Square Miles) 3.15 37.05 58.72
Age 1-mi. 3-mi. 5-mi.Median Age, Total 24.8 26.63 28.31Median Age, Male 26.04 26.81 28.16Median Age, Female 23.65 26.43 28.49% Age 18+ 89.6% 84.22% 80.46%% Age 21+ 73.71% 71.99% 71.09%% Age 55+ 8.79% 16.7% 17.85%% Age 65+ 3.92% 9.22% 9.47%
Ethnicity 1-mi. 3-mi. 5-mi.% White 62.18% 68.35% 70.5%% Black/African American 14.62% 13.21% 11.65%% American Indian / Alaska Native 0.8% 0.75% 0.82%% Asian 8.35% 5.42% 4.84%% Native Hawaiian / Other Pacific Islander 0.33% 0.12% 0.12%
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CONTACT INFORMATION
Glen FarrisVERUS ADVISORSCOLDWELL BANKER COMMERCIALNRT319 W Oak StDenton, TX 76201
Phone: (300) 381-2220Fax: (940) 381-0077Mobile: (940) [email protected]
For more information, please contact:
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CONFIDENTIALITY STATEMENT
This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the Coldwell Banker Commercial affiliate or by the Seller.
The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.
This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.
Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.
The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.
Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.
