PMG Worldwide Leases Office Space At 515 Congress Ave In Austin With Brad Philp & Connor Atchley Of Stream Realty
515 Congress Avenue, Austin, TX 78701, USA
Building Size
14,082 SF
Asset Type
Office
Closing
Jun 30, 2020
About this deal
AI
PMG Worldwide, a tenant in Austin, has recently signed a lease agreement for an office space located at 515 Congress Ave. The property spans an area of 14,082 square feet and is owned by KBS. Stream Realty represented PMG Worldwide in the transaction, with Brad Philp and Connor Atchley serving as the brokers.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 515 Congress Ave
- Market: Austin
- Tenant: PMG Worldwide
- Tenant Representative: George Popstefanov
- Landlord: KBS
- Brokers: Brad Philp & Connor Atchley - Stream Realty
The lease deal was finalized on June 30, 2021, with PMG Worldwide securing office space at the prime location. George Popstefanov represented PMG Worldwide in the negotiation process. The involvement of Stream Realty, specifically Brad Philp and Connor Atchley, as the brokers, ensured a successful transaction for all parties involved.
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