8445 Freeport PkwyIrving, TX 75063

Parkway Tower, an Irving, Texas office building, presents a compelling investment opportunity. This Class B, six-story building boasts 81,056 square feet of executive office space situated on a 3.506-acre lot. Currently 62% occupied, the property offers immediate upside potential with approximately 32,000 square feet available for lease. Built in 1982, the building features small floor plates, ideal for a diverse range of tenants, and provides a strong in-place cash flow with a staggered lease rollover schedule. Its prime location in the Las Colinas submarket of Dallas/Fort Worth offers exceptional access to major transportation networks, including Interstate 635 and State Highway 114, and is within five minutes of Dallas/Fort Worth International Airport and the Cypress Waters development. The property benefits from its proximity to the Las Colinas Urban Center and Toyota Music Factory, providing tenants with access to numerous amenities. The building also offers ample parking, with 3.5 spaces per 1,000 square feet. An assumable loan at a fixed 4.17% interest rate through June 2025, presents a significant advantage in the current interest rate environment. The property is offered at a discount to replacement cost, estimated at approximately $400 per square foot, providing a strong value-add opportunity for investors seeking to reposition the asset within one of Dallas' most desirable office submarkets. Significant signage, naming, and branding opportunities exist for the new owner. The long-term optionality of the 3.5-acre site with freeway frontage adds further value. This property is situated in a dynamic location within an outstanding demographic area, benefiting from the Dallas/Fort Worth area's robust economy and strong population and job growth.