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
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