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
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