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4999 South Custer Road

Rise Commercial Acquires 28.58 Acres Development Site In Frisco From Brookfield Properties
SOLDDevelopment Site

Rise Commercial Acquires 28.58 Acres Development Site In Frisco From Brookfield Properties

4999 South Custer Road

Building Size

1,244,945 SF

Asset Type

Development Site

Closing

Dec 17, 2024

AI

The transaction involved the purchase of a development site located at 4999 South Custer Road, spanning 1,244,945 square feet. The asset is situated in the Frisco market and falls under the category of retail land, specifically within The Grove Development at the northwest corner of Custer and Main. The sale was successfully completed on December 17, 2024.

Summary of transaction details:

The deal was facilitated with Rise Commercial represented by DuWest Realty, specifically by Scott Rodgers and Chris Janowski. The seller, Brookfield Properties, was represented by Demian Salmon and Chap Bernet from Stream Realty Partners. The transaction involved the acquisition of 28.58 acres of retail land, contributing to the development of The Grove in Frisco, Texas.

Players

Demian Salmon

Stream Realty Partners⁠

Broker

3 deals

Broker

Mc Kinney Development Site Market Snapshot

Boundary boundary · Development Site · 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