Industrious Expands Austin Presence With 30000 Square Foot Lease At 7001 Burnet Road
7001 Burnet Road
Building Size
30,000 SF
Asset Type
Office
Closing
Aug 29, 2024
About this deal
AI
The asset involved in this transaction is an office space located at 7001 Burnet Road in Austin, encompassing a total area of 30,000 square feet. This lease contributes to the growing demand for office spaces suitable for tech and creative startups in the Austin market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 30,000
- Address: 7001 Burnet Road
- Market: Austin
- Landlord: David Kahn - Colina West Real Estate
- Tenant: Jamie Hodari - Industrious
- Broker: Jason Steinberg - Equitable Commercial Realty
Industrious, represented by Jamie Hodari, is enlarging its presence in Austin to nearly 170,000 square feet with this new lease. Jason Steinberg from Equitable Commercial Realty facilitated the arrangement, highlighting the demand for flexible office solutions in the area.
On the Map
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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