Steptoe & Johnson, PLLC Leases Office Space In Dallas With Savills Reps
500 N Akard St, Dallas, TX, 75201
Building Size
14,300 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The office property at 500 N Akard St, Dallas, TX, 75201 is an attractive location for law firms. Steptoe & Johnson, PLLC chose this building for their first Dallas office, securing a 14,300-square-foot space on the 32nd floor. Kessler Collins, Godwin Bowman, and McGinnis Lochridge also found new homes in Ross Tower, with each firm leasing unique spaces within the high-rise.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Tenant: Steptoe & Johnson, PLLC
- Square Feet: 14,300
- Tenant's Representative: Lesa Nickelson French(Savills), Ric Kanatzer(Savills)
- Landlord: Undisclosed
Lesa Nickelson French and Ric Kanatzer of Savills played essential roles in representing Steptoe & Johnson, PLLC during lease negotiations. Transwestern's Principal Sanders Thompson and Senior Vice President Billy Gannon facilitated the lease for Kessler Collins. The move for Godwin Bowman PC was orchestrated by Director Ryan Hoopes and Executive Managing Director Tom Sutherland from Cushman & Wakefield. The transaction also saw McGinnis Lochridge, LLP doubling their space within Ross Tower.
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