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7000 W William Cannon Dr, A...

ATX Office Owner 4 LP Leases 34995 Square Feet To Tenant Represented By Mark Russell And Jeremy Hakala In Austin
LEASEDIndustrial

ATX Office Owner 4 LP Leases 34995 Square Feet To Tenant Represented By Mark Russell And Jeremy Hakala In Austin

7000 W William Cannon Dr, Austin, TX...

Building Size

34,995 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

An industrial lease has been negotiated for a property located at 7000 W William Cannon Dr, Austin, TX. The size of the leased space is 34,995 square feet within the Austin market. The landlord of the property is ATX Office Owner 4 LP.

Summary of transaction details:

  • Property Type: Industrial Lease
  • Transaction Amount: Not disclosed
  • Address: 7000 W William Cannon Dr, Austin, TX
  • Square Feet: 34,995
  • Tenant: Advanced Micro Devices Inc.
  • Tenant's Representatives: Mark Russell - NKF, Jeremy Hakala - Newmark
  • Landlord: ATX Office Owner 4 LP

The deal involved several key individuals from Newmark Knight Frank (NKF), including Mike Hopper, Steve Biegel, Scott Lewis, and Gregory Katz, in addition to the tenant's representatives. The affiliation of the landlord, ATX Office Owner 4 LP, is with Endeavor Real Estate Group, which underscores the corporate nature of the transaction.

Players

Jeremy Hakala

Newmark

Broker

$144.5M

vol

17 deals

Broker

Austin 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