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
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