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
Fort Worth 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