|Building Area Net||
|Number of units||435|
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 Lenox Crown (the “Property”), a 435-unit, Class A asset located in Garland, Texas. Positioned adjacent to President George Bush Turnpike, the Property provides residents access to an abundance of employment and entertainment centers including CityLine, Telecom Corridor, Downtown Dallas and Firewheel Town Center.
UNIQUE ASSET WITH UNMATCHED AMENITIES – Lenox Crown is an institutional asset that offers superior construction and unique community amenities that are not commonly found in the marketplace including a resort-style pool, outdoor fire pit, yoga room, and outdoor lounge. In addition, the Property offers 23 townhome units and 148 tuck-under spaces.
STRONG LEASING VELOCITY WITH LIMITED NEW DEVELOPMENT – Lenox Crown is performing very strong throughout the lease up as the Property has averaged more than 49 leases per month over the past seven months. This demonstrates the strength of the submarket and the desirability of the product. In addition, the submarket has limited new supply with only 300 units under construction or in lease-up in Garland.
PROXIMATE TO EMPLOYMENT AND ENTERTAINMENT CENTERS – The Property sits adjacent to President George Bush Turnpike and within minutes of US-75, which puts residents in close proximity to some of the major employment and entertainment centers in the Metroplex including Downtown Dallas, the Telecom Corridor, Cityline and Firewheel Town Center.