Abilene Christian Univ Renews 25.4K SF Office Lease In Addison, TX
16633 Dallas Parkway
Building Size
25,426 SF
Asset Type
Office
Closing
Jul 2, 2024
AI
An office spanning 25,426 square feet located at 16633 North Dallas Parkway in Addison was leased to Abilene Christian University. The property is owned by New York Life Insurance Co.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 16633 North Dallas Parkway
- Market: Addison
- Tenant: Abilene Christian University
- Landlord: New York Life Insurance Co.
Abilene Christian University was represented by Tyler Howarth from Holt Lunsford Commercial in the lease agreement. On the other side, representing the landlord, New York Life Insurance Co., were J.J. Leonard and Chase Lopez from Stream Realty Partners.
Players
Addison 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