Billingsley Co Leases 17327 Square Feet On Cypress Waters Blvd In Coppell With Tenant Rep Christopher Fleeger
Cypress Waters BLVD, Coppell, TX, 75...
Building Size
17,327 SF
Asset Type
Office
Closing
Nov 19, 2023
About this deal
AI
Optym has signed a lease for office space at Cypress Waters, located on Cypress Waters Blvd in Coppell, TX. The leased space encompasses 17,327 square feet within a 1,000-acre mixed-use development by Billingsley Co. This development is situated just outside DFW International Airport.
Summary of transaction details:
- Property Type: Office Lease
- Transaction Amount: Not disclosed
- Address: Cypress Waters BLVD, Coppell, TX
- Market: Coppell
- Square Feet: 17,327
- Tenant: Optym
- Landlord: Billingsley Co
- Tenant's Representative: Christopher Fleeger-Morrow Hill Corporate Advisor
- Landlord's Representative: Marijke Lantz Flowers-Billingsley Company
Optym is planning to relocate its headquarters from Gainesville, Florida, to the new leased space starting in August. The lease negotiations were handled internally by Marijke Lantz of Billingsley Co., while Christopher Fleeger of Morrow Hill represented Optym in the transaction.
Players
Coppell 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