RBC Wealth Management Leases 11710 Square Feet At Uplands Corporate Center In Austin
5301 Southwest Parkway
Building Size
11,710 SF
Asset Type
Office
Closing
Sep 29, 2024
AI
The office asset located at 5301 Southwest Parkway in Austin spans 11,710 square feet. This property is part of Uplands Corporate Center and offers advanced HVAC systems aimed at enhancing air quality. The campus features two buildings and still has 14,000 square feet available for lease.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Term: seven-year
- Landlord: Mark S. Whiting - Drawbridge Realty
- Tenant: RBC Wealth Management
- Brokers: Kevin Granger, Matt Frizzell & Rick Whiteley - Cushman & Wakefield
The transaction involves RBC Wealth Management, which aims to open its office by year-end in the newly leased space. The landlords, Drawbridge Realty, have existing tenants such as Tricentis USA Corp. and WuXi Clinical within the property.
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