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2900 Esperanza Crossing

Dun & Bradstreet Leases 36,000 SF Office Space In Austin's Domain Gateway
LEASEDOffice

Dun & Bradstreet Leases 36,000 SF Office Space In Austin's Domain Gateway

2900 Esperanza Crossing

Building Size

36,000 SF

Asset Type

Office

Closing

Mar 7, 2024

AI

The office property located at 2900 Esperanza Crossing in Austin, spanning 36,000 square feet, was leased in a recent transaction. The space will now be occupied by Dun & Bradstreet, with Anthony Jabbour representing the tenant, in North Austin's Domain Gateway building previously owned by Indeed.

Summary of transaction details:

Dun & Bradstreet's decision to lease the 36,000 square feet in North Austin's Domain Gateway building from Indeed highlights the company's strategy as it scales back its operations in Austin. This move comes amidst the broader trend of remote work impacting the office market in Austin, evident through last year's nearly 20 percent office vacancy rate, signaling changes in workspace dynamics within the city.

Players

Nate Stricklen

CBRE

Broker

5 deals

Broker

Austin 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