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