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1601 Elm Street

Updated Dec 4, 2024

Santander Consumer USA Renews 211,087 SF Lease At 1601 Elm St, Dallas
LEASEDOffice

Santander Consumer USA Renews 211,087 SF Lease At 1601 Elm St, Dallas

1601 Elm Street

Building Size

211,087 SF

Asset Type

Office

Closing

Jul 1, 2024

About this deal

AI

The property at 1601 Elm Street in Dallas consists of an office asset spanning 211,087 square feet. The lease transaction involved Santander Consumer USA as the tenant and Pacific Elm Properties as the landlord.

Summary of transaction details:

The lease transaction was facilitated by Cushman & Wakefield's representatives, Robbie Baty and Travis Boothe, who negotiated on behalf of the tenant, Santander Consumer USA. Representing the landlord, Pacific Elm Properties, internally were Sara Terry and Reegan Busby.

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Players

Sara Terry

Pacific Elm Properties

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Dallas Office Market Snapshot

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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

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