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1500 Solana Boulevard

ECI Software Solutions Leases Office Space In Westlake's The Terraces At 1500 Solana Blvd
LEASEDOffice

ECI Software Solutions Leases Office Space In Westlake's The Terraces At 1500 Solana Blvd

1500 Solana Boulevard

Building Size

25,468 SF

Asset Type

Office

Closing

Apr 12, 2024

AI

The office property located at 1500 Solana Boulevard in Westlake spans 25,468 square feet and was leased by software company ECI Software Solutions. The relocation of the company's headquarters from Fort Worth to Westlake aligns with its post-pandemic adaptation to a 100% hybrid work policy.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 1500 Solana Boulevard
  • Market: Westlake
  • Landlord: Michael Klein & Mickey Stefan - Glenstar
  • Tenant: Trevor Gruenewald & Andrew Pryor - ECI Software Solutions

Jeff Eckert from JLL represented the landlord Michael Klein & Mickey Stefan, while Stephen Rury from Colliers was the tenant's representative for Trevor Gruenewald & Andrew Pryor. The move to a smaller, more inviting space at The Terraces at 1500 Solana Blvd reflects ECI Software Solutions' efforts to create a bright, warm environment for its employees amidst changing workplace needs.

Players

Stephen Rury

Colliers

Broker

2 deals

Broker

Roanoke 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