Greenberg Traurig Signs Lease For 49400 Square Feet At McKinney & Olive In Uptown Dallas
2021 Mckinney Avenue
Building Size
49,400 SF
Asset Type
Office
Closing
Oct 17, 2024
AI
The property asset involved in this transaction is an office space located at 2021 McKinney Avenue in Dallas, encompassing a total square footage of 49,400. The asset is part of McKinney & Olive, a 20-story office building situated in the Uptown Dallas market. The building is owned by Granite Properties and Highwoods Properties and includes amenities such as a rooftop terrace and in-building restaurants.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 2021 Mckinney Avenue
- Market: Dallas
- Square Footage: 49,400
- Landlords: Will Hendrickson - Granite Properties; Ted Klinck - Highwoods Properties
- Tenant: Brian Duffy - Greenberg Traurig
The deal features the involvement of Will Hendrickson and Ted Klinck as the landlord representatives from Granite Properties and Highwoods Properties, respectively. In this transaction, Brian Duffy represents the tenant, Greenberg Traurig, who is set to relocate from its current office in the Dallas Arts Tower by spring 2026 and will occupy two floors in the building.
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