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550 Lakeside Pkwy, Flower M...

Duke Realty Leases 525641 Square Feet At 550 Lakeside Pkwy With Tenant's Rep Allen Gump
LEASEDIndustrial

Duke Realty Leases 525641 Square Feet At 550 Lakeside Pkwy With Tenant's Rep Allen Gump

550 Lakeside Pkwy, Flower Mound, TX...

Building Size

525,641 SF

Asset Type

Industrial

Closing

Jul 16, 2020

AI

The property involved in the transaction is a logistics facility located at 550 Lakeside Pkwy, Flower Mound, TX, with a total square footage of 525,641. The asset is situated in the Flower Mound market and is recognized for its last-mile connectivity to the residential growth northwest of Dallas. It has convenient access to SH 121 as well as Interstates 635 and 35.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Property Address: 550 Lakeside Pkwy, Flower Mound, TX
  • Market: Flower Mound
  • Square Feet: 525,641
  • Landlord: Duke Realty
  • Landlord's Representative: Matt Hyman (Duke Realty)
  • Tenant's Representative: Allen Gump (Colliers International)

The deal involved negotiations by Matt Hyman for Duke Realty and included lease renewals with existing tenants during a challenging business environment. Other brokers involved in related transactions include Trace Elrod and Chris Mathis with Newmark Knight Frank, Brad Struck and Sharon Morrison with ESRP, Jean Russo with Cushman & Wakefield, and Melissa Holland, Chris Stout, TJ Hochanadel, and Dan Santagata with JLL.

Players

Matt Hyman

Duke Realty

Broker

13 deals

Broker
Duke Realty
Duke RealtyLandlord

Flower Mound 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