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4965 Preston Park BLVD, Pla...

Digital Matrix Systems Leases 22500 Square Feet At 4965 Preston Park Blvd In Plano
LEASEDOffice

Digital Matrix Systems Leases 22500 Square Feet At 4965 Preston Park Blvd In Plano

4965 Preston Park BLVD, Plano, TX, 7...

Building Size

22,500 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

Digital Matrix Systems has signed a lease for an office space at 4965 Preston Park BLVD, located in Plano, Texas. The leased space encompasses 22,500 square feet, as the company transitions its headquarters from nearby Addison. This property is situated in a prominent area, providing access to local amenities and transportation links.

Summary of transaction details:

  • Property Type: Office Lease
  • Transaction Amount: Not disclosed
  • Address: 4965 Preston Park BLVD, Plano, TX
  • Market: Plano
  • Tenant: Digital Matrix Systems
  • Landlord: TerraCap Management
  • Tenant's Representative: Campbell Puckett - CBRE
  • Landlord's Representatives: Campbell Henry, Chris Axley - Lincoln Property Co
  • Square Feet: 22,500

Mike Cleary and Mike Kay of CBRE were also involved in representing Digital Matrix Systems during the site selection and lease negotiations. The landlord, TerraCap Management, was represented by Campbell Henry and Chris Axley, both affiliated with Lincoln Property Co, ensuring a collaborative process between the involved parties.

Players

Campbell Henry

Lincoln Property Company

Broker

1 deal

Broker
TerraCap Management
TerraCap ManagementLandlord

Plano 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