facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Texas

/

Office

/

Lease

/

13355 Noel Rd Dallas, TX 75...

LEASEDOffice

Flexport Leases 50,000 SF Office Space At Galleria Towers In Dallas

13355 Noel Rd Dallas, TX 75240, USA

Building Size

50,000 SF

Asset Type

Office

Closing

Jun 27, 2023

AI

Piedmont Office Realty Trust has leased 50,000 square feet of office space to Flexport in the Galleria Towers located at 13355 Noel Road in Dallas. The office space will be occupied by Flexport, a logistics firm led by former Amazon executive Dave Clark.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 50,000
  • Address: 13355 Noel Road, Dallas
  • Market: Dallas

This lease deal highlights Flexport's expansion plans and their decision to secure office space in Dallas amid the city's high office vacancy rates. The Galleria Towers provides the company with a suitable location for their operations in the city.

Players

Piedmont Office Realty Trust
Piedmont Office Realty TrustLandlord

Texas 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