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1359 Lomaland Dr El Paso, T...

LEASEDOffice

Akorbi Signs 10,573 SF Office Lease In El Paso, TX With Tenant's Rep Jeff Pappas - Newmark

1359 Lomaland Dr El Paso, TX 79935, USA

Building Size

10,573 SF

Asset Type

Office

Closing

Jun 26, 2023

AI

A Texas-based multilingual digital solutions company, Akorbi, has signed a 10,573-square-foot office lease in El Paso. The new office space, located at 1359 Lomaland Drive, will support Akorbi's growth plans and expand its presence in the multilingual sector. The secure facilities will cater to financial and healthcare clients, marking Akorbi's ninth expansion outside of its Plano headquarters.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Square Footage: 10,573
  • Address: 1359 Lomaland Drive
  • Market: El Paso

The landlord's representatives in this deal are Will Brown and Michael McBroom from Sonny Brown Associates. Akorbi's representative is Jeff Pappas from Newmark.

Players

Will Brown

Broker

3 deals

Broker

Texas 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