Philip Levy Of Marcus & Millichap Facilitates Sale Of Woodlake Square Carrollton Retail Center
3050 N Josey Ln, Carrollton, TX, 75007
Building Size
80,774 SF
Asset Type
—
Closing
Nov 22, 2023
AI
Located in Carrollton, Texas, the property at 3050 N Josey Ln is known as Woodlake Square, a retail center spanning 80,774 square feet. Situated on 6.7 acres of land, this complex was originally built in 1979 and underwent renovations in 2019. Major tenants within the property include Harbor Freight Tools, LA Fitness, and Dollar Tree, with the center being 94 percent leased at the time of its recent sale.
Summary of transaction details:
- Property Type: Retail Center
- Transaction Amount: Not disclosed
- Address: 3050 N Josey Ln, Carrollton, TX, 75007
- Market: Carrollton
- Seller's Representative: Philip Levy (Marcus & Millichap)
- Buyer: Undisclosed 1031 Exchange Investor
- Square Footage: 80,774
Philip Levy of Marcus & Millichap played a crucial role in the transaction involving the sale of Woodlake Square. Representing the seller, a limited liability company, Levy also facilitated the deal for the buyer, an undisclosed 1031 exchange investor. Both parties involved opted for anonymity, maintaining confidentiality throughout the negotiation process.
Players
Carrollton CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93