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4401 Cirrus Way

Scott Cooke Of Toyota Financial Services Leases 242000 Square Feet Office In Frisco From Michael Levy
LEASEDOffice

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

Trey Smith

CBRE

Broker

5 deals

Broker

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