Perdure Petroleum Leases 17212 Square Feet At 1101 Central Expy S In Allen, TX
1101 Central Expy S, Allen, TX, 75013
Building Size
17,212 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
Perdure Petroleum has signed a lease for an office space measuring 17,212 square feet located at 1101 Central Expy S, Allen, TX 75013. The transaction takes place in the Allen market, with the company planning to move to this location in the fourth quarter. This relocation represents an expansion of approximately 10,000 square feet in Perdure's office footprint.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Square Feet: 17,212
- Address: 1101 Central Expy S, Allen, TX 75013
- Market: Allen
- Tenant: Perdure Petroleum
- Landlord: 1101 SCE LLC
- Tenant's Rep: Jan Elwell - JE Commercial Realty
- Landlord's Rep: Jared Laake - Bradford Commercial Real Estate Services
In this transaction, Jan Elwell of JE Commercial Realty represented Perdure Petroleum, while Jared Laake and Susan Singer from Bradford Commercial Real Estate Services acted on behalf of the landlord, 1101 SCE LLC. The lease agreement signifies a strategic move for Perdure Petroleum as they aim to enhance their operational capabilities in the region.
Players
Allen Office Market Snapshot
Boundary boundary · 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