American Honda Finance Corp Leases Office Space In Irving, TX With CBRE And JLL
8111 Royal Ridge Pkwy, Irving, TX, 75...
Building Size
23,142 SF
Asset Type
Office
Closing
Nov 22, 2023
AI
The Royal Ridge complex, located at 8111 Royal Ridge Pkwy in Irving, TX, spans 500,000 square feet and houses various office spaces. American Honda Finance Corp. has expanded its office lease within the complex, adding 23,142 square feet to its existing footprint. The property is owned by Accesso, a Florida-based landlord, while the tenant was represented by Tim Vaughan from CBRE, and the landlord was represented by Michael Williams from JLL.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: American Honda Finance Corp
- Landlord: Accesso
- Square Feet: 23,142
- Tenant's Rep: Tim Vaughan (CBRE)
- Landlord's Rep: Michael Williams (JLL)
American Honda Finance Corp’s lease expansion brings their total office space at Royal Ridge to nearly 100,000 square feet. Timothy Vaughan of CBRE represented the tenant, while John Brownlee and Michael Williams of JLL worked on behalf of the landlord, Accesso, in the negotiations. The deal showcases the continued growth and commitment of American Honda Finance Corp within the Royal Ridge complex in Irving.
Players
Irving 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