Total Office Solutions Leases 329328 Square Feet At 2201 Chemsearch Blvd In Irving, TX
2201 Chemsearch BLVD, Irving, TX, 7...
Building Size
329,328 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
The property involved in this transaction is a newly built speculative development located at 2201 Chemsearch BLVD, Irving, TX. The asset encompasses a total area of 329,328 square feet and is situated on a 20-acre site. It includes 192 trailer parking stalls and 300 car parking spaces, servicing the headquarters needs of Total Office Solutions.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 2201 Chemsearch BLVD, Irving, TX
- Market: Irving
- Landlord: CT Realty
- Tenant: Total Office Solutions
- Landlord's Representative: Craig Jones - Sotheby's International Realty
- Tenant's Representatives: Robert Deptula and Collin Rock - Transwestern
This deal highlights the collaboration between key players in the real estate market, with Craig Jones and Randy Touchstone from JLL representing the landlord, CT Realty. Total Office Solutions, a firm specializing in commercial moving and office furniture sales, will also establish a showroom within its new headquarters.
Players
Irving 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