Bare Dermatology Leases Medical Office In Frisco With Kyle Libby As Tenant's Rep
12950 Dallas Pkwy, Frisco, TX, 75034
Building Size
11,500 SF
Asset Type
Medical Office
Closing
Nov 20, 2023
AI
Located at 12950 Dallas Parkway in Frisco, Texas, Frisco Medical Pavilion II is a planned 60,000-square-foot medical office building. The property will soon be the home of Bare Dermatology, who has signed an 11,500-square-foot lease to occupy space on the third floor. The site aims to serve as Bare Dermatology's flagship clinic, offering state-of-the-art dermatologic services.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not provided
- Tenant: Bare Dermatology
- Tenant's Rep: Kyle Libby(Medcore Partners)
- Landlord: Undisclosed
- Square Feet: 11,500
Kyle Libby, a representative from Medcore Partners, played a crucial role in negotiating the lease for Bare Dermatology at Frisco Medical Pavilion II. The building, managed by Transwestern, is set to feature a Class A medical office space with various amenities, including a cutting-edge lobby and elevator cabs capable of accommodating gurneys. The property's prime location in Frisco positions Bare Dermatology strategically to cater to the high-income population in the area.
Players
Frisco Medical Office Market Snapshot
Boundary boundary · Medical Office · 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