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12377 Merit Drive

Audacy Leases 24000 Square Feet Office Space In Dallas Represented By Cushman & Wakefield
LEASEDOffice

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:

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

Deme Mekras

MSP Group

Broker

$270.5M

vol

32 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