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400 Hospital Drive

Updated Dec 4, 2024

Regional Employee Assistance Program Renews 40,000 SF Office Lease In Corsicana
LEASEDOffice

Regional Employee Assistance Program Renews 40,000 SF Office Lease In Corsicana

400 Hospital Drive

Building Size

39,975 SF

Asset Type

Office

Closing

Mar 25, 2024

About this deal

AI

The office property located at 400 Hospital Drive in Corsicana spans a total of 39,975 square feet. It serves as the headquarters for the Regional Employee Assistance Program, following the renewal of their lease for 10 years. The landlord, Healthcare Realty Services LLC, successfully secured this long-term agreement with the tenant, providing stability and continuity to the property's occupancy.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 400 Hospital Drive
  • Market: Corsicana
  • Landlord: Healthcare Realty Services LLC
  • Tenant: Regional Employee Assistance Program

The lease negotiations were skillfully handled by Allison Johnston Frizzo and Tanya Hart Little from Hart Commercial, acting as the landlord's representatives. On the other side, Deidre Hardister from NAI Geis Realty Group navigated the deal with expertise, representing the Regional Employee Assistance Program during the negotiation process, ensuring a successful outcome for both parties involved in the transaction.

Players

Allison Johnston Frizzo

Hart Commercial

Broker

1 deal

Broker

Corsicana 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

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