7929 Brookriver Dr 156,278 SF 72% Leased 4-Star Office Building Dallas, TX 75247 For Sale

Younger Partners, as exclusive advisor, is pleased to present 7929 Brookriver, a 7-story, 156,000 square-foot office tower that is situated at the epicenter of the West Love / Medical District Submarket. The Property offers immediate access to Dallas Love Field Airport and the Park Cities via Mockingbird Lane as well as direct connectivity to north Dallas, downtown and D/FW International Airport via I-35. The Property is benefited by recently renovated amenities, a tenancy closely tied to the location and discounted rental rates relative to comparable assets in neighboring submarkets. Combined, these attributes provide investors a stable cash flow and significant upside potential.
The Property has a compliment of modern amenities and long history of ownership by an institutionally minded operator. With more than $1 million recently invested in the building, 7929 Brookriver is currently 72% occupied to a tenured group of tenants that skew medical and value the proximity to UT Southwestern, Parkland Hospital and Children’s Health in conjunction with immediate access to major transportation nodes (IH-35 and SH 183). Roughly 30% of the current tenancy is medical or offers services to a variety of health realty fields.
7929 Brookriver is leased to a diverse base of tenants that secure a reliable revenue stream. With a WALT of roughly 3 years, further value can be realized
through the continued lease-up of the small vacancies that appeal to the broadest segment of the market’s tenancy. A revitalization of the asset starting in 2023 has produced higher occupancy and rents. Average new and renewal lease rate have grown substantially and create a dynamic opportunity to mark existing tenants to market. Recent leasing has proven the market at the building at over $22/sf Plus Electric while average in-place rates sit just over $19/sf and overall submarket average is over $25/sf.
In addition to strong leasing potential, the underlying 5.75 acre site presents a rare long-term redevelopment opportunity in one of Dallas’ most desirable corridors. An “edge of the district’ opportunity, The Medical District is one of the most active institutional infrastructure investment zones in North Texas. The area is transitioning from a pure hospital cluster into a mixed-use innovation district with growing demand for residential, retail and lifestyle developments.