Buckner International Leases 20,100 Square Feet From Acram Group In North Dallas
12377 Merit Drive
Building Size
20,100 SF
Asset Type
Office
Closing
Nov 27, 2024
AI
The property involved in the transaction is located at 12377 Merit Drive in Dallas, comprising a total area of 20,100 square feet. This office space is part of the Lakeside Square development and is set to accommodate Buckner International in 2025, following their relocation from the Plaza of the Americas.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 12377 Merit Drive
- Market: Dallas
- Landlord: J. Matthew Cassin, Isaac Zion & David Taylor - Acram Group
- Tenant: Albert Reyes - Buckner International
- Landlord's Representative: Gini Rounsaville, Hudson Neuhoff & Trevor Franke - JLL
- Tenant's Representative: John Armes & Tyler Howarth - Holt Lunsford Commercial
The transaction features key involvement from representatives of both the landlord and tenant. The landlord, Acram Group, was represented by JLL professionals Gini Rounsaville, Hudson Neuhoff, and Trevor Franke. On the tenant's side, Buckner International was represented by John Armes and Tyler Howarth from Holt Lunsford Commercial.
Players
Dallas 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