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5301 Southwest Parkway

RBC Wealth Management Leases 11710 Square Feet At Uplands Corporate Center In Austin
LEASEDOffice

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:

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

Rick Whiteley

Cushman & Wakefield

Broker

1 deal

Broker

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