Audacy Leases 24000 Square Feet Office Space In Dallas Represented By Cushman & Wakefield
12377 Merit Drive
Building Size
24,000 SF
Asset Type
Office
Closing
Nov 24, 2024
AI
The property asset involved in this transaction is an office space located at 12377 Merit Drive in the Dallas market. This office space spans 24,000 square feet and is leased by Audacy from the landlord, Acram Group.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Size: 24,000 square feet
- Address: 12377 Merit Drive
- Market: Dallas
- Landlord: Acram Group
- Tenant: Audacy
- Landlord's Representative: Gini Rounsaville, Trevor Franke & Hudson Neuhoff - JLL
- Tenant's Representative: Deme Mekras & Travis Boothe - Cushman & Wakefield
The deal is notable for the engagement of key representatives from both sides. Gini Rounsaville, Trevor Franke, and Hudson Neuhoff from JLL facilitated the arrangement for Acram Group, while Cushman & Wakefield's Deme Mekras and Travis Boothe represented Audacy in the lease agreement.
Players
Dallas Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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