Bestow Signs 11-Year Lease For 42,000 SF Office Space In Dallas
2700 Commerce Street, Dallas, TX, USA
Building Size
42,000 SF
Asset Type
Office
Closing
Aug 30, 2021
About this deal
AI
Bestow, a company specializing in insurance solutions, has secured an 11-year lease for their new office space in Deep Ellum, Dallas. The property, located at 2700 Commerce St, spans approximately 42,000 square feet and is owned by The Stack Deep Ellum.
Summary of transaction details
- Property Type: Office
- Transaction Date: 08/30/2021
- Address: 2700 Commerce St
- Market: Dallas
- Square Footage: 42,000
- Tenant: Bestow - Jonathan Abelmann
- Landlord: The Stack Deep Ellum
- Broker: ALT+CO
- Term: 11-year lease
Under the guidance of ALT+CO, Bestow successfully negotiated the lease agreement for their new office space. Jonathan Abelmann, representing Bestow, worked with the landlord, The Stack Deep Ellum, to secure the long-term lease.
Players
Dallas Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Deal FAQ
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