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409 N Houston St, Dallas, T...

Harwood International Leases 55918 Square Feet To Tenant Represented By Dan Harris In Dallas
LEASEDOffice

Harwood International Leases 55918 Square Feet To Tenant Represented By Dan Harris In Dallas

409 N Houston St, Dallas, TX, 75202

Building Size

55,918 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property involved in this lease transaction is located at 409 N Houston St, Dallas, TX, 75202. It is situated in the Dallas market, consisting of a total square footage of 55,918 square feet. The transaction marks a significant expansion for the tenant, who has taken on additional space in the building.

Summary of transation details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 409 N Houston St, Dallas, TX, 75202
  • Market: Dallas
  • Square Feet: 55,918
  • Tenant's Representative: Dan Harris - Stream Realty Partners
  • Landlord: Harwood International

The tenant in this transaction is Lerma, a creative marketing agency that has signed a lease for 27,959 square feet within a larger 169,000-square-foot building known as The Luminary. The tenant was represented in the lease negotiations by Dan Harris and Nate Hruby from Stream Realty Partners, ensuring effective discussions between the parties involved. Harwood International, the landlord, has recently acquired the building, which offers amenities including a rooftop terrace, bike racks, and daily food service.

Players

Dan Harris

Stream Realty Partners⁠

Broker

9 deals

Broker
Harwood International
Harwood InternationalBrokerage
Harwood International
Harwood InternationalLandlord

Dallas 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