Lotus Office Center
3460 - 3480 Lotus Drive, Plano, TX 75075
- 71,344 Square Feet
- For Sale
Colliers International is pleased to exclusively offer to qualified investors Lotus Office Center (the “Property”), comprised of two single-story office buildings containing 71,344 square feet located at 3460-3480 Lotus Drive in the Dallas suburb of Plano, Texas. Constructed for dense occupancy, the asset’s tenant spaces have recently been refurbished and take advantage of an efficient design and layout.
93% LEASED WITH STABLE IN-PLACE CASH FLOW AND CONTRACTUAL RENT INCREASES
Lotus Office Center, with 93% occupancy and a weighted average remaining lease term of 6.1 years, provides a passive investor with long term investment security via a diversified tenant base and annual contractual rent increases.
ANCHORED BY INSIGHT ENTERPRISES (NASDAQ: NSIT)
Insight Enterprises, occupying 56% of Lotus Office Park and 13 year tenure with a new long term lease, provide strong investment grade credit and stability. The tenant benefits from its location within the 190 STEM Corridor and proximity to nearby corporations and University of Texas Dallas (UTD).
MATURE, ESTABLISHED 190 STEM CORRIDOR WITH SIGNIFICANT REINVESTMENT
Recent significant area investment by major corporations have energized the submarket and 190 STEM Corridor with new developments in the area, such as the recently completed CityLine mixed-use development (including retail and State Farm’s state-of-the-art headquarters), Heritage Creekside, Northside mixed-use development, and proposed Palisades mixed-use development.
ABUNDANT 6.3/1,000 PARKING RATIO
With approximately 3.2 acres of adjacent paved parking (total site approximately 8.2 acres), Lotus Office Center boasts an abundant total parking ratio of 6.3/1,000 SF accommodating dense users, providing flexible options for tenants and future investors.
Property Status: existing
Lot Size: 356625.72 Square Feet
Building Size: 71334 Square Feet
Area Available: 71,344 Square Feet