Fay Servicing Inc Leases 47,951-SF Office Space In Farmers Branch, Dallas
1601 Lyndon B Johnson Freeway
Building Size
47,951 SF
Asset Type
Office
Closing
Nov 13, 2023
About this deal
AI
Fay Servicing Inc. has signed a lease for a 47,951-square-foot office space located at 1601 Lyndon B Johnson Freeway in Farmers Branch, Dallas. The property is owned by TCI Park West I Inc. and the lease deal was facilitated by Transwestern, represented by Duane Henley. Newmark, on the other hand, represented Fay Servicing Inc. in the transaction.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Available
- Address: 1601 Lyndon B Johnson Freeway
- Market: Farmers Branch
- Square Footage: 47,951
This lease agreement between Fay Servicing Inc. and TCI Park West I Inc. highlights the collaborative efforts of Duane Henley from Transwestern and Frank Puskarich & Louis Pascuzzi from Newmark. They played instrumental roles in representing their respective clients throughout the negotiation process.
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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