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8550 Freeport Parkway

SiriusXM Renews 58350 Square Foot Lease At Freeport Business Center In Irving
LEASEDOffice

SiriusXM Renews 58350 Square Foot Lease At Freeport Business Center In Irving

8550 Freeport Parkway

Building Size

58,350 SF

Asset Type

Office

Closing

Oct 4, 2024

AI

The property asset involved is located at 8550 Freeport Parkway in Irving. It is classified as an office space with a total square footage of 58,350 and is situated in a business center originally constructed in 1999. SiriusXM has renewed its lease at this location, maintaining its status as the sole tenant in Building III.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 8550 Freeport Parkway
  • Market: Irving
  • Landlord's Representative: Rhett Miller & Tim Terrell - Stream Realty Partners
  • Tenant's Representative: Ryan Buchanan - CBRE
  • Lease Renewal: SiriusXM
  • Square Footage: 58,350

In this transaction, Rhett Miller and Tim Terrell from Stream Realty Partners represented the landlord in the lease renewal negotiations, while Ryan Buchanan from CBRE represented SiriusXM. This collaboration has ensured the continued occupancy of the facility by SiriusXM.

Players

Rhett Miller IV

Stream Realty Partners⁠

Broker

5 deals

Broker

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