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3230 Camp Bowie Blvd Fort W...

PNC Bank Leases Office Space At The Crescent Fort Worth In Cultural District
LEASEDOffice

PNC Bank Leases Office Space At The Crescent Fort Worth In Cultural District

3230 Camp Bowie Blvd Fort Worth, TX 76107, USA

Building Size

15,000 SF

Asset Type

Office

Closing

Sep 8, 2023

AI

The Crescent Fort Worth, a mixed-use development in the Cultural District, will soon be home to PNC Bank. The bank has recently leased approximately 15,000 square feet of office space at this prime location. The move is scheduled for early next year, providing ample time for the necessary preparations. The property, owned by Crescent Real Estate, offers a spacious and well-designed office space for PNC Bank's various teams.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 3230 Camp Bowie Boulevard, Fort Worth
  • Market: Fort Worth
  • Square Footage: 15,000

Crescent Real Estate, headed by John Goff, serves as the landlord in this lease agreement. PNC Bank, represented by their own team, saw the potential in The Crescent Fort Worth and decided to establish their presence at this bustling mixed-use development. The office space will undoubtedly provide a conducive working environment for PNC Bank's operations. This lease deal showcases the trust and confidence PNC Bank has in Crescent Real Estate's ability to provide exceptional properties for their business needs.

Players

PNC Bank
PNC BankLender

John Goff

Crescent Real Estate

Landlord

$1.2B

vol

10 deals

Landlord
PNC Bank
PNC BankTenant

Fort Worth 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