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Allstate Leases 53043 Square Feet Office Space At Cypress Waters In Coppell From Billingsley Co
LEASEDOffice

Allstate Leases 53043 Square Feet Office Space At Cypress Waters In Coppell From Billingsley Co

Building Size

53,043 SF

Asset Type

Office

Closing

Nov 18, 2024

AI

The property involved in this transaction is an office asset located at Cypress Waters in Coppell, Texas. The total square footage of the office space is 53,043 square feet. The landlord for this asset is Billingsley Co., who maintains ownership over the property.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: Cypress Waters
  • Market: Coppell
  • Landlord: Billingsley Co
  • Tenant: Allstate
  • Broker: Ryan Buchanan - CBRE

Allstate has signed a lease agreement for the office space, with plans to take occupancy in June 2025. The deal was facilitated by Ryan Buchanan from CBRE, representing the tenant in this transaction.

Players

Ryan Buchanan

CBRE

Broker

7 deals

Broker

Market 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