Cadence McShane Construction Company Signs Long-Term Lease For 16242 Square Feet In Plano
7500 Dallas Parkway
Building Size
16,242 SF
Asset Type
Office
Closing
Jul 29, 2024
AI
The office property located at 7500 Dallas Parkway in Plano has a total square footage of 16,242. The market value and specifics regarding the transaction amount are not disclosed. The asset is situated in a location that contributes to its appeal for businesses in the area.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Lease Term: long-term
- Landlord: Eduardo Gildenson - Gildenson Real Estate
- Tenant: Cadence McShane Construction Company LLC
- Landlord's Representative: Jared Laake - Bradford Commercial Real Estate Services
- Tenant's Representatives: Garrison Efird & Steven Blankenship - Newmark
- Occupancy Date: Q1 2025
- Current Occupancy Rate: almost 90%
The lease agreement was signed by Cadence McShane Construction Company LLC. The deal, brokered by both Bradford Commercial Real Estate Services and Gildenson Real Estate, marks a notable enhancement in the building's occupancy, significantly impacting its overall rental performance and future market position.
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