Marc Vanderslice Of CBRE Represents WordPress Engine In Austin Office Lease
504 Lavaca Street
Building Size
22,536 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property involved in this lease transaction is an office space located at 504 Lavaca St, Austin, TX, 78701. The asset offers a total square footage of 22,536 and is part of Lavaca Plaza, which is a four-building office complex. The property was built in 1980 and underwent remodeling in 2001. It is situated in the Austin market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Tenant: WordPress Engine
- Landlord: Unico Properties
- Tenant's Representative: Marc Vanderslice - CBRE
- Landlord's Representatives: Matt Levin and Jason Steinberg - Equitable Commercial Realty
- Square Feet: 22,536
In this deal, Marc Vanderslice, alongside Nate Stricklen and John Gump from CBRE, represented the tenant, WordPress Engine. On the landlord's side, Matt Levin and Jason Steinberg from Equitable Commercial Realty represented Unico Properties during the lease negotiations.
Players
Austin 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