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
Flower Mound Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
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