Scott Cooke Of Toyota Financial Services Leases 242000 Square Feet Office In Frisco From Michael Levy
4401 Cirrus Way
Building Size
242,000 SF
Asset Type
Office
Closing
Feb 12, 2025
AI
The asset involved in this lease transaction is an office building located at 4401 Cirrus Way in Frisco. The building encompasses a total area of 242,000 square feet and is part of a 45-acre mixed-use development that includes retail, restaurants, and residential units.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Date: 02/12/2025
- Landlord: Michael Levy - Crow Holdings
- Tenant: Scott Cooke - Toyota Financial Services
- Brokers: Ben Davis, Jackie Marshall & Trey Smith - CBRE
This lease marks the largest office lease in Dallas-Fort Worth in the past two years. It is anticipated that the facility will accommodate approximately 1,000 employees, demonstrating the significance of this transaction within the commercial real estate market.
Players
Frisco 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