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
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