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 Alexan Flower Mound (the “Property”), a 350-unit, Class A community located in the high barriers to entry suburb of Flower Mound, Texas.
The Property is surrounded by several major employment and entertainment destinations including Dallas/Fort Worth International Airport, Grapevine Mills, Gaylord Texan Resort, Grapevine Lake, and Las Colinas Urban Center.
SUBURBAN, INSTITUTIONAL ASSET WITH INCREDIBLE PRE-LEASING DEMAND
Alexan Flower Mound is a Class A community that presents the opportunity to acquire an institutional asset with market leading finish outs including stainless steel appliances, granite countertops, USB outlets, mudrooms, and private garages. In addition, the Property is currently 24% leased with a temporary leasing office, which demonstrates the desirability of the product and the strength of the submarket.
FLOWER MOUND – IRREPLACEABLE LOCATION WITH HIGH BARRIERS TO ENTRY
Alexan Flower Mound is located in the most coveted suburb in Dallas/Fort Worth with extremely high barriers to entry for new development due to the difficulty of getting land zoned for multifamily development. In addition, there are currently zero additional units under construction or in lease-up in Flower Mound, and only two other assets (691 units) have delivered in this suburb since 2017.
SIGNIFICANT NEIGHBORING ECONOMIC DRIVERS
The Property sits just west of the intersection of Sam Rayburn Tollway and I-35, which puts residents in close proximity to some of the major employment and entertainment centers in the Metroplex including:
- Dallas/Fort Worth International Airport – the fourth busiest airport in the world and supports over 228,000 jobs
- Las Colinas Urban Center – 2,000 companies and 30 Fortune 500 companies
- Lakeside Retail – Over 270,000 SF of walkable retail with tenants including Starbucks, Cinepolis, and Mio Nonno Trattoria
- Grapevine Mills – 1.6 MSF of retail and 180 stores including Under Armor, H&M, AMC Theatres, and Nike
- Gaylord Texan Resort – 1,511-room hotel with more than 400,000 SF of meeting space
- Grapevine Lake – consists of an 8,000-acre lake with various parks and trails