Deloitte Leases 100,000 SF Office Space In Uptown Dallas
2323 Cedar Springs Road
Building Size
100,000 SF
Asset Type
Office
Closing
Jan 16, 2024
AI
The 23Springs tower, located at 2323 Cedar Springs Road in Dallas, has recently secured a lease agreement with Deloitte. The multinational professional services network will be relocating to Uptown Dallas and leasing over 100,000 square feet of office space. This move comes amidst a leasing downturn in the Dallas-Fort Worth area, and Deloitte cited the need for appealing office spaces and amenities as their reason for choosing the 23Springs tower.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 2323 Cedar Springs Road
- Market: Dallas
In this lease agreement, Deloitte will be renting office space from the following landlords: Will Hendrickson of Granite Properties and Ted Klinck of Highwoods Properties. The collaboration between these parties signifies a strategic decision made by Deloitte to fulfill their office space requirements.
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