WellMed Medical Management Leases Medical Office In Irving's Commerce Office Park
8403 Sterling Street
Building Size
3,154 SF
Asset Type
Medical Office
Closing
Mar 15, 2024
AI
A medical office spanning 3,154 square feet located at 8403 Sterling Street in Irving's Commerce Office Park has been leased by WellMed Medical Management. The property serves as a vital space for healthcare operations in the area, with Jason Finch and Michael Spain of Bradford Commercial Real Estate Services serving as the landlord's representatives.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not specified
- Address: 8403 Sterling Street
- Market: Irving
- Tenant: George Rapier - WellMed Medical Management
- Landlord's Rep: Jason Finch & Michael W. Spain - Bradford Commercial Real Estate Services
- Tenant's Rep: Eric Sheets - Medcore Partners
Eric Sheets of Medcore Partners has represented WellMed Medical Management in securing the lease, highlighting the strategic role of tenant representation in this transaction.
Players
Irving 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