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4040 West Royal Lane

Diana Beck Lavine's Freedom Furniture & Design Leases 15,340 SF Industrial Space In Irving With Avison Young
LEASEDIndustrial

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

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.

Players

Jason Finch

Rich Young Company

Broker

28 deals

Broker

Irving Industrial Market Snapshot

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