Capital Institutional Services Renews Office Lease At 1700 Pacific Ave In Downtown Dallas
1700 Pacific Ave, Dallas, Tx 75201, Usa
Building Size
24,106 SF
Asset Type
Office
Closing
May 16, 2023
AI
Capital Institutional Services has renewed its office lease for 24,106 square feet at 1700 Pacific Ave. in downtown Dallas. The building, spanning 49 stories and approximately 1.3 million square feet, provides amenities such as a food court, fitness center, and conference facilities. Cresa represented the tenant in the lease negotiations, while the owner, Olymbec, represented itself.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not Applicable
- Address: 1700 Pacific Ave, Dallas, TX 75201, USA
- Market: Not Applicable
Capital Institutional Services has renewed its office lease for 24,106 square feet at 1700 Pacific Ave. in downtown Dallas. The building, spanning 49 stories and approximately 1.3 million square feet, provides amenities such as a food court, fitness center, and conference facilities. Cresa represented the tenant in the lease negotiations, while the owner, Olymbec, represented itself.
Players
Texas 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