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7500 Dallas Pkwy, Plano, TX...

Carstens, Allen & Gourley Leases 12500 Square Feet At 7500 Dallas Pkwy Plano From Franklin Street Partners
LEASEDOffice

Carstens, Allen & Gourley Leases 12500 Square Feet At 7500 Dallas Pkwy Plano From Franklin Street Partners

7500 Dallas Pkwy, Plano, TX, 75024

Building Size

12,500 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

The property involved in this transaction is located at 7500 Dallas Pkwy, Plano, TX, 75024. It consists of an office lease for 12,500 square feet at One Legacy Circle, a newly renovated building situated in the Plano market.

Summary of transaction details:

  • Property Type: Office Lease
  • Transaction Amount: Not disclosed
  • Square Feet: 12,500
  • Address: 7500 Dallas Pkwy, Plano, TX, 75024
  • Tenant: Carstens, Allen & Gourley
  • Landlord: Franklin Street Partners
  • Tenant's Representative: Jim Hazard-Cresa
  • Landlord's Representative: Lauren Perry-JLL

The deal was facilitated by Roy Reis and Jim Hazard from Cresa, who represented the tenant. Lauren Perry and Russ Johnson from JLL represented the landlord throughout the lease negotiations.

Players

Jim Hazard

Cresa

Broker

2 deals

Broker
Franklin Street Properties
Franklin Street PropertiesLandlord

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