Reata Pharmaceuticals Leases 121,903 Square Feet At 5320 Legacy Dr In Plano From Denbury Onshore LLC
5320 Legacy Dr, Plano, TX, 75024
Building Size
121,903 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
Reata Pharmaceuticals has signed a sublease for office space located at 5320 Legacy Drive in Plano, Texas. The property encompasses 121,903 square feet and is situated in the Plano market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 5320 Legacy Dr, Plano, TX, 75024
- Market: Plano
- Tenant: Reata Pharmaceuticals
- Landlord: Denbury Onshore LLC
- Tenant's Representative: John Ellerman, CBRE
- Landlord's Representative: Maureen Kelly Cooper, Cushman & Wakefield
The lease negotiations were handled by Mike Wyatt, Robbie Baty, and Travis Boothe from Cushman & Wakefield, representing Denbury Onshore LLC. Jeff Ellerman also from CBRE represented Reata Pharmaceuticals in this transaction.
Players
Plano 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