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2601 Olive Street, Dallas, ...

Newmark Leases 46,350 SF Office Space At 2601 Olive St In Dallas
LEASEDOffice

Newmark Leases 46,350 SF Office Space At 2601 Olive St In Dallas

2601 Olive Street, Dallas, Texas 75201, United States

Building Size

46,350 SF

Asset Type

Office

Closing

May 16, 2022

AI

The property asset involved in the transaction is an office space located at 2601 Olive St in the Dallas market. The total square footage of this asset is 46,350. The landlord for this property is Kaizen Development Partners, while the tenant is Newmark.

Summary of transaction details:

The deal involved key representatives such as Sarah Kennington and Bryce Jackson from Thirty-Four Commercial, along with Blake Shipley from JLL representing the landlord. John Wolf represented the tenant, Newmark, facilitating the lease agreement for the office space.

Players

Blake Shipley

JLL

Broker

3 deals

Broker
KP
Kaizen Development PartnersLandlord

Dallas Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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