facebook

traded

+ Submit
Home

/

Deals

/

North Carolina

/

Office

/

Lease

/

128 South Tryon Street

Dornin Investment Group Secures 10-Year Lease With Government Services Administration In Charlotte NC
LEASEDOffice

Dornin Investment Group Secures 10-Year Lease With Government Services Administration In Charlotte NC

128 South Tryon Street

$38

$38/SF

Building Size

34,531 SF

Asset Type

Office

Closing

Nov 14, 2024

AI

The asset involved in this transaction is an office property located at 128 South Tryon Street in Charlotte, NC. The property encompasses a total square footage of 34,531 and is leased at a rate of $38 per square foot under a modified gross lease agreement. The Landlord is Dornin Investment Group, represented by the brokerage firm CBRE.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 128 South Tryon Street, Charlotte, NC
  • Landlord: Chris Dornin - Dornin Investment Group
  • Tenant: Government Services Administration (GSA)
  • Landlord's Representatives: Marcy Owens Test, Matt Goubeaux & Kris Westmoreland - CBRE
  • Lease Type: Modified Gross Lease
  • Lease Term: 10 years

This lease transaction involved Chris Dornin as the landlord, with the Government Services Administration as the tenant. The leasing process was facilitated by Marcy Owens Test and Matt Goubeaux from the CBRE Federal Lessor Advisory Group, alongside local broker Kris Westmoreland, all representing Dornin Investment Group in this deal.

Players

Kris Westmoreland

CBRE

Broker

$74.8M

vol

5 deals

Broker

Charlotte Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

417447.37%

Cash-on-Cash

-119307.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93