Lerma Advertising Leases 27959 SF Office Space At 409 N Houston St, Dallas
409 N Houston St, Dallas, TX, 75202
Building Size
27,959 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The Luminary, an eight-floor office tower located at 409 W. Houston in Dallas’ Innovation District, recently leased 27,959 square feet of office space to Lerma Advertising. The office tower was delivered in 2019 and offers amenities such as 14-foot floor-to-ceiling windows, SageGlass no-blind window tint technology, a rooftop deck, and locker rooms.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Provided
- Address: 409 N Houston St, Dallas, TX, 75202
- Market: Dallas
- Landlord's Rep: Lauren Napper(CBRE), Trey Smith(CBRE), Ward Eastman(CBRE)
- Tenant: Lerma Advertising
- Landlord: Crescent Real Estate
- Square Feet: 27,959
Trey Smith, Lauren Napper, and Ward Eastman from CBRE in Dallas represented the landlord, Longwharf and Crescent Real Estate, in the lease negotiations with Lerma Advertising. On the other hand, Dan Harris from Stream Realty Partners acted as Lerma Advertising's representative in the deal. The Luminary still has 54,000 square feet of available space for lease, which includes two speculative office suites.
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