Sleep Number is a generational investment opportunity located at the highly coveted intersection of Preston Road and Northwest Highway in Dallas, Texas. Positioned at one of the most dynamic intersections in DFW, the Property benefits from an irreplaceable infill location at the entry to Preston Center, an extremely dense retail and office submarket. The prestigious neighborhoods of Park Cities and Preston Hollow surround Sleep Number are among the most affluent neighborhoods in the nation and contain some of the most expensive and soughtafter homes in the Metroplex (the average home value exceeds $1.2 million within a 1 mile radius of the Property with some homes exceeding $22 million in value). Sleep Number signed a 10-year primary term lease that runs through February 2028 with 10% rent escalations every 5 years and two, 5-year renewal options. The lease is corporately guaranteed by Select Comfort Retail Corporation (now Sleep Number Corporation) which has been a leader in sleep innovation for over 30 years with more than 570 locations across the nation. Consisting of a 2,983 square foot building that was fully renovated in 2017 along with a 15-year manufacturer’s roof warranty in 2018, the Property benefits from a highly-walkable location in one of the most desirable mixed-use urban areas in the city.
