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12377 Merit Drive

Buckner International Leases 20,100 Square Feet From Acram Group In North Dallas
LEASEDOffice

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:

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

Trevor Franke

JLL

Broker

4 deals

Broker

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