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
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