Michael Klein Of Glenstar And Seth Singerman Of Singerman Real Estate Lease 26000 SF Office To M1 Support Services In Westlake
1500 Solana Boulevard
Building Size
26,000 SF
Asset Type
Office
Closing
Sep 8, 2025
About this deal
AI
The property asset involved in this transaction is located at 1500 Solana Boulevard in Westlake. It encompasses 26,000 square feet of office space within the Terraces at Solana complex, which spans 1.1 million square feet. The complex is owned by Glenstar, based in Chicago, and Singerman Real Estate.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 26,000
- Address: 1500 Solana Boulevard
- Market: Westlake
- Landlord: Michael Klein - Glenstar & Seth Singerman - Singerman Real Estate
- Tenant: M1 Support Services
M1 Support Services has entered into a lease agreement to occupy the space at the Terraces at Solana, relocating from Denton. This transaction reflects the ongoing activity within the office real estate market in the Westlake area.
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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