Common Desk Leases 26750 Square Feet At 1250 Lake Plaza Dr From USAA Real Estate
1250 Lake Plaza Dr, Spring, TX, 77389
Building Size
26,750 SF
Asset Type
Mixed-use
Closing
Nov 19, 2023
AI
The property involved in this transaction is a 26,750-square-foot leased space located at 1250 Lake Plaza Dr, Spring, TX, 77389, situated in the Montgomery market. The space is part of City Place, a mixed-use development in the northern Houston suburb of Spring, owned by Patrinely Group in partnership with USAA Real Estate.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Square Feet: 26,750
- Address: 1250 Lake Plaza Dr, Spring, TX, 77389
- Market: Montgomery
- Landlord: USAA Real Estate
- Tenant: Common Desk
- Landlord's Representatives: Matt Pruitt-JLL, Chrissy Wilson-JLL, Dennis Tarro
- Landlord's Internal Agents: Phillip Moore, Dennis Tarro of Patrinely Group
Common Desk, a Dallas-based provider of coworking and flexible workspace solutions, has opened this location. The lease negotiations were facilitated by Chrissy Wilson and Matt Pruitt of JLL. Common Desk has also recently expanded its presence by opening a 25,000-square-foot space at HALL Park in Frisco.
Players
Montgomery Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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