Bandera Ventures Leases 45,000 SF Office Space In Dallas To Godwin Bowman PC, McGinnis Lochridge LLP, And Steptoe & Johnson PLLC
500 North Akard Street
Building Size
45,000 SF
Asset Type
Office
Closing
May 25, 2022
About this deal
AI
The office property located at 500 N. Akard St in Dallas has been leased. The property spans approximately 45,000 square feet and is owned by Bandera Ventures.
Summary of transaction details:
- Property Type: Office
- Transaction Date: 05/25/2022
- Address: 500 N. Akard St
- Market: Dallas
- Tenants: Godwin Bowman PC, McGinnis Lochridge LLP, and Steptoe & Johnson PLLC
- Landlord's Representative: Hunter Lee, Ben Cuzen & Luke Aviles - HPI Real Estate Services & Investments
- Tenant's Representatives: Savills & Cushman & Wakefield
Hunter Lee, Ben Cuzen, and Luke Aviles of HPI Real Estate Services & Investments represented the landlord, Bandera Ventures, in this lease transaction. The tenant is represented by Savills and Cushman & Wakefield.
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Office
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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