Gray Reed Leases 50,000 SF Office At 1845 Woodall Rodgers Freeway In Dallas
1845 Woodall Rodgers Freeway
Building Size
50,000 SF
Asset Type
Office
Closing
Oct 28, 2024
AI
The property asset involved in this transaction is located at 1845 Woodall Rodgers Freeway in Dallas. It is an office space totaling 50,000 square feet. The lease type is a NNN Lease, indicating that the tenant is responsible for property taxes, insurance, and maintenance costs in addition to rent.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1845 Woodall Rodgers Freeway
- Market: Dallas
- Landlord: Woodbine Development Corporation & First United Bank
- Tenant: Gray Reed
- Landlord's Representative: Alexis Martinez - Woodbine Commercial
- Tenant's Representatives: John Beach & Jay Magness - Newmark
Key individuals involved in this transaction include Alexis Martinez representing the landlord Woodbine Development Corporation and First United Bank. The tenant, Gray Reed, is represented by John Beach and Jay Magness from Newmark, highlighting a collaboration between these real estate professionals in securing the lease agreement.
Players
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