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Castle Hills Village Shops ...

RealTime Labs Leases 7,334 SF Office Space At Castle Hills Village Shops In Lewisville
LEASEDMixed-use

RealTime Labs Leases 7,334 SF Office Space At Castle Hills Village Shops In Lewisville

Castle Hills Village Shops & Plaza, 2540 King Arthur Blvd, Lewisville, TX, USA

Building Size

7,334 SF

Asset Type

Mixed-use

Closing

Mar 11, 2021

AI

The Castle Hills Village Shops in Lewisville recently brokered a lease deal for a 7,334-square-foot office space with RealTime Laboratories. This new lease is for their corporate headquarters and was facilitated by Bright Realty brokers Britton Lankford, Dan Looney, and Nick Miller. RealTime Labs offers a range of testing services, including COVID and antibody testing. As their permanent lab in Carrollton undergoes repairs from the winter storm, they are currently operating temporarily from a storefront location at the Village Shops, providing consumer testing services.

Summary of transaction details

  • Property Type: Mixed-use
  • Address: 2540 King Arthur Blvd, Lewisville
  • Market: Lewisville
  • Tenant: RealTime Labs
  • Landlord: Castle Hills Village Shops, LLC
  • Asking Rent: $20/ft.
  • Square Footage: 7,334
  • Brokers: Britton Lankford, Dan Looney, and Nick Miller - Bright Realty

The Castle Hills Village Shops, located within the Castle Hills master-planned community, offers a variety of unique eateries, such as The London Baker and Ramen Izakaya Akira. It also provides conveniences like hair salons, dental offices, and a convenience store. The Village Shops features an outdoor plaza with seating, a stage, and water features for community events and gatherings. With multiple retail and office opportunities available, it serves as a neighborhood destination in Lewisville.

Players

Nick Miller

Bright Realty

Broker

$61.9M

vol

10 deals

Broker

Lewisville 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