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
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