Updated Dec 4, 2024
Diana Beck Lavine's Freedom Furniture & Design Leases 15,340 SF Industrial Space In Irving With Avison Young
4040 West Royal Lane
Building Size
15,340 SF
Asset Type
Industrial
Closing
Feb 7, 2024
About this deal
AI
Freedom Furniture & Design has signed a seven-year lease for a 15,340-square-foot industrial space at 4040 West Royal Lane in Irving. The property, located in the Royal Jetstar Tech Center, is owned by Pre DFW Airport LLC. The lease transaction took place on 02/07/2024. Diana Beck Lavine represents Freedom Furniture & Design as the tenant. Jason Finch and Michael W. Spain from Bradford Commercial Real Estate Services acted as the landlord's representatives. Avison Young, represented by Daniel Rudd, served as the tenant's representative.
Summary of transation details
- Property Type: Industrial
- Transaction Date: 02/07/2024
- Address: 4040 West Royal Lane
- Market: Irving
- Square Footage: 15,340
- Landlord: Pre DFW Airport LLC
- Tenant: Diana Beck Lavine - Freedom Furniture & Design
- Landlord's Rep: Jason Finch & Michael W. Spain - Bradford Commercial Real Estate Services
- Tenant's Rep: Daniel Rudd - Avison Young
- Lease Term: 7 years
Bradford Commercial Real Estate Services represented the landlord, Pre DFW Airport LLC, in the lease transaction. Avison Young represented the tenant, Freedom Furniture & Design. This lease agreement marks a significant milestone for both parties involved in the deal.
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Industrial
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Boundary boundary · Industrial · Lease 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