Centersquare Subleases 30,342 SF Office HQ In Coppell
3100 Olympus Boulevard
Building Size
30,342 SF
Asset Type
Office
Closing
May 2, 2024
AI
The office space involved in the lease transaction is a 30,342-square-foot headquarters located at 3100 Olympus Boulevard in Coppell, Texas. The property is part of Cypress Waters, owned by Billingsley Co. The space was secured by Centersquare, offering colocation, connectivity, and cloud infrastructure solutions, to accommodate around 150 employees.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Tenant: Spencer Mullee - Centersquare
- Landlord's Rep: Spencer Oster, Steve Wentz, Travis Boothe - Cushman & Wakefield
- Tenant's Rep: Cribb Altman & Curt Holcomb - JLL
The lease transaction was negotiated by Cribb Altman and Curt Holcomb of JLL on behalf of Centersquare. On the other side of the deal, representing the undisclosed sublandlord were Steve Wentz, Travis Boothe, and Spencer Oster from Cushman & Wakefield. The deal took place in the vibrant market of Coppell, Texas, showcasing the collaboration between notable brokerage professionals and companies in the real estate industry.
Players
Coppell 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