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5205 North O'connor Boulevard

Caterpillar Inc. Leases Office Space At 5205 N O'Connor Blvd In Irving With Brokers Ned Franke & Matt Heidelbaugh - Cushman & Wakefield
LEASEDOffice

Caterpillar Inc. Leases Office Space At 5205 N O'Connor Blvd In Irving With Brokers Ned Franke & Matt Heidelbaugh - Cushman & Wakefield

5205 North O'connor Boulevard

Building Size

1,400,000 SF

Asset Type

Office

Closing

May 2, 2021

AI

Caterpillar Inc., represented by Jim Umpleby, has signed a lease agreement for an office space located at 5205 N O'Connor Blvd in Irving. The property is owned by Apollo Global Real Estate, Vanderbilt Partners, and Hillwood Urban. The deal was facilitated by brokers Ned Franke and Matt Heidelbaugh from Cushman & Wakefield.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 5205 N O'Connor Blvd, Irving
  • Market: Irving

The lease agreement between Caterpillar Inc. and the property owners marks another significant move in the Irving market. The 1,400,000,000-square-foot office space will serve as a strategic location for Caterpillar Inc.'s operations, led by Jim Umpleby.

Players

Matt Heidelbaugh

Cushman & Wakefield

Broker

2 deals

Broker
Apollo Global
Apollo GlobalLandlord

Irving 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