Involved For Life Inc. Acquires Garland Office Building From Exchange Resource Group LLC
1014 Main Street
Building Size
5,130 SF
Asset Type
Office
Closing
Apr 22, 2024
AI
The office building located at 1014 Main St. in Garland is a 5,130-square-foot class B property, situated on a half-acre lot and featuring 28 parking spaces. The sale of this prominent office project was recently finalized after a three-year wait, with the property attracting buyer Involved for Life Inc. and seller Exchange Resource Group LLC. Buyer's representative Bob Charles from Texas Premier Realty LLC facilitated the transaction, while the seller was represented by Brian Pafford and Kyle Espie of Bradford Commercial Real Estate Services.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Market: Garland
- Square Footage: 5,130
- Acres: 0.49
- Buyer: Carolyn Cline - Involved for Life Inc.
- Seller: Exchange Resource Group LLC
- Buyer's Rep: Bob Charles - Texas Premier Realty
- Seller's Rep: Brian Pafford & Kyle Espie - Bradford Commercial Real Estate Services
Bradford Commercial Real Estate Services successfully navigated an unforeseen property issue during due diligence to close the sale of the office building. The buyer Involved for Life Inc., identified as Carolyn Cline, was represented by broker Bob Charles, while the seller, Exchange Resource Group LLC, was guided through the transaction by Brian Pafford and Kyle Espie from Bradford Commercial Real Estate Services.
Players
Garland Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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