3000 Skyline
Acquisition Date | March 2007
Disposition Date | December 2014
Year Built | 1999
Class | A
Size | 240,153 square feet
Building Height | 10 Stories
Location | 4055 Valley View Lane, Farmers Branch, TX 75244
IRR | Approximately 10%
Actual Multiple | 1.8x
The Opportunity
- Capitalize on Corporate America’s demand for data center and high-tech manufacturing facilities
- Unique opportunity to purchase a large site that has the rare combination of critical infrastructure that is well suited for data center or high technology manufacturing use
- Originally built by Western Electric as a manufacturing facility, the building was “over engineered” and provides a robust structure and infrastructure
- 40 acres of excess land for future development or build to suit opportunities up to 400,000 square feet
- Acquired at a low basis
The Strategy
- Have the largest, most robust facility immediately available in Dallas
- Speed to market to expedite delivery time for users
- Over 100 MVA electrical power available from the onsite substation
- Build a proprietary fiber loop, “Skyline Communications” to all major Dallas carrier hotels to provide a carrier neutral facility
- Provide a low-cost facility for data center or high-tech manufacturing lease or purchase
The Result
- The sale or lease up was prolonged by the “Great Recession”
- We modified the business plan to focus on a lease to core strategy
- The business plan is progressing as anticipated
- The expected multiple will exceed 1.7 X
