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3625 W Royal Ln, Irving, TX...

Accesso Leases Office Space To American Honda Finance Corp In Irving, TX
LEASEDOffice

Accesso Leases Office Space To American Honda Finance Corp In Irving, TX

3625 W Royal Ln, Irving, TX, 75063

Building Size

99,927 SF

Asset Type

Office

Closing

Apr 14, 2021

AI

The property asset involved in this transaction is an office building located at 3625 W Royal Ln, Irving, TX, within the Irving market. The asset consists of a total of 99,927 square feet of office space. Accesso, the landlord, has a significant history with this property, having acquired the complex from EQ Office in 2011 for $72.5 million. The office park features a 500,000-square-foot area, and American Honda Finance Corp. has been a tenant at this location since its completion in 2000.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 3625 W Royal Ln, Irving, TX, 75063
  • Landlord: Accesso
  • Landlord's Representative: Michael Williams-JLL
  • Tenant: American Honda Finance Corp
  • Square Feet: 99927

The transaction marks the long-term renewal of a 76,785-square-foot lease along with a notable expansion of 23,142 square feet for American Honda Finance Corp. John Brownlee and Michael Williams of JLL represented Accesso during this deal, while CBRE provided assistance to Honda in the lease process.

Players

Michael Williams

JLL

Broker

4 deals

Broker
Accesso
AccessoLandlord

Irving 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