IBM Corp Leases 320,000 SF Office Space In Austin With Brokers Bo Beacham & John Barksdale Of CBRE
11901 North Mopac Expressway, Austin, Texas 78758, United States
Building Size
320,000 SF
Asset Type
Office
Closing
May 3, 2023
AI
The property involved in this transaction is an office space located at 11901 North MoPac Expressway in Austin. The property has a total area of 320,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: N/A
- Market: Austin
- Landlord: Hines - Phillip Croker
- Tenant: IBM Corp - Joanne Wright & Dexter Henderson
- Brokers: Bo Beacham & John Barksdale - CBRE
The landlord for this property is Hines, represented by Phillip Croker. The tenant in this transaction is IBM Corp, represented by Joanne Wright and Dexter Henderson. CBRE brokers, Bo Beacham and John Barksdale, facilitated the deal.
Players
Austin 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