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
About this deal
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.
On the Map
Office
View full map
Players
Texas Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Browse Texas office leases on Traded.
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