A 1000+ acre corporate park in the most ... - Mercer Crossing

Mercer Crossing
North Texas’ newest and most accessible business
address is located at Mercer Crossing - the 1,000+
acre mixed-use development located primarily in
the City of Farmers Branch, Texas (also includes
Dallas, Carrollton and Irving) at the crossroads of
Interstate 35 (the “I-35”), Interstate 635 (the “I-
635”) (also known as the “LBJ Freeway”) and the
recently completed President George Bush Turnpike
(the “PGBT”). Jointly held by the public companies
advised by Pillar, Mercer Crossing offers office,
retail, hotel, and residential sites among spacious
greens and waterways just minutes from downtown
Dallas and the area’s two major airports.
The Mercer Crossing project represents a unique
opportunity that is no longer readily available in the
Dallas/Fort Worth marketplace--an opportunity to
redirect the character of an area. The property is in
the center of the Dallas freeway system, surrounded
by the I-35 and I-635, and the new PGBT. These
highways serve a substantial portion of the
transportation needs of the Dallas/Fort Worth area
and offer critical access and visibility to properties
which front them. When the PGBT is complete in
2006, it will connect seven cities and three counties
directly to Mercer Crossing. In conjunction with
the PGBT connection, Mercer Crossing is building
a second east-west artery within its bounds to
complement the recently completed Whittington
Place – the first east-west artery in the Project.
2 Mercer Crossing
Recently, the North Texas Council of Governments
hailed Mercer Crossing as the demographic center of
the Dallas/Fort Worth area.
While the I-35 corridor became densely built-out to
the north and south of LBJ Freeway and much of the
LBJ Freeway corridor to the east of I-35 was developed,
the land to the west of I-35 remained under utilized.
A protracted recessionary climate stalled development
in the late 1980’s through the early 1990’s. The
increasing prominence of D/FW International Airport
(the 12 th busiest airport in the world), located a few
minutes to the west, coupled with the pronounced
significance of the Las Colinas and Valley Ranch
developments, resulted in an accelerated volume of
traffic along this portion of LBJ Freeway. Moreover,
economic conditions in the Dallas/Fort Worth region
have strengthened to the point that the Dallas/
Fort Worth area is now widely regarded as the most
favorable location for new real estate development
among national real estate investors and developers.
The prominent location of Mercer Crossing presents
an opportunity to develop a large, mixed-use project,
comprised of office, hotel, retail, light industrial, and
multi-family residential uses. The communities that
are affected by this project, Dallas, Farmers Branch,
Carrollton, and Irving, have eagerly embraced the
possibility of upgrading the area to higher-valued and
higher-profile uses, rather than merely an extension
of the industrial properties presently found in the
vicinity.
In summary, the excellent exposure provided by
this location and the amount of undeveloped land
surrounding it provides a unique opportunity in the
metroplex. The feasibility of this ongoing development
complex is clearly justified by the greater value,
appreciation potential, tenant demand, and rental
rates achievable on a more commercially oriented
development.
The property borders two successful developments,
Las Colinas and Valley Ranch; both located in the City
of Irving, Texas - 12 th largest city in Texas. Its 69.3
square miles lie adjacent to the Dallas Fort Worth
International Airport. The vitality of Irving’s economy
is spread over a wide business base. Las Colinas,
the city’s urban center, is home to more than 2,000
businesses, 40 of which are listed on the Fortune 500.