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1601 Lyndon B Johnson Freeway

Fay Servicing Inc Leases 47,951-SF Office Space In Farmers Branch, Dallas
LEASEDOffice

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

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.

Players

Duane Henley

Newmark

Broker

6 deals

Broker

Dallas 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