|Number of units||235|
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 Shoreview Flats (the “Property”) in Dallas, Texas. Built in 2020, the 235-unit apartment community is located at the north end of White Rock Lake – walking distance to the various parks, green spaces, and trails that surround the lake. Additionally, the property is one block from the highly trafficked Northwest Highway (45,000 VPD), providing direct access to HWY 75 and several of Dallas’ top economic drivers. Major nearby employers include, Texas Health Presbyterian Hospital, Medical City Hospital, and the LBJ Business District. Furthermore, residents at Shoreview Flats have access to Richardson ISD and Lake Highlands High School, which is ranked in the top 14% of high schools in Texas.
INSTITUTIONAL QUALITY, CLASS “A” ASSET – Shoreview Flats is an institutional asset that offers an extravagant set of community amenities, including a sky lounge entertainment space with views of the Dallas CBD, a resort-style pool, state-of-the-art fitness center, chic clubhouse and resident lounge, outdoor kitchen, bocce ball court, bike storage, and quick access to trails, parks, and White Rock Lake.
INFILL LOCATION WITH HIGH BARRIERS TO ENTRY - Positioned in the Lake Highlands neighborhood, the Property is located in an infill location with no new supply under construction. In addition, there have only been 525 units that have come online in the submarket over the last five years.
HIGHLY AFFLUENT DEMOGRAPHIC BASE – Shoreview Flats is well-positioned to take advantage of the surrounding area’s affluent demographic base as the average household income within a one-mile radius is over $127,400 while the average home price is more than $420,000.
IMPRESSIVE NEIGHBORING RECREATIONAL & RETAIL AMENITIES
◊ The Dallas Arboretum offers 66 acres of plants, forests and flowers and is one of the top botanical gardens in the US.
◊ White Rock Lake is 1,254-acre lake with 9.4 miles of trails and is the city’s most popular park providing numerous watersport activities.
◊ Lake Highlands Town Center is a 70-acre mixed-use development comprising 200,000 SF of retail including a new Sprouts grocer and 30,000 SF of office space.
◊ NorthPark Center is one of the top five shopping malls in the country which surpasses $1 billion in annual sales.