Avison Young Represents PAR Capital In Sale Of 48,304 SF Office Building In McKinney, TX
1575 Heritage Drive, McKinney, Texas 75069, United States
Building Size
48,304 SF
Asset Type
Office
Closing
Oct 12, 2022
About this deal
AI
Located in McKinney, TX, a recent closed property transaction took place at 1575 Heritage Drive. The asset involved in the transaction is an office space spanning across 48,304 square feet. The deal was finalized on October 13, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
PAR Capital acted as the seller in this transaction. Avison Young, represented by Philip Boren, Susan Gwin Burks, Bruce Butler, and John Bowles, served as the seller's representatives. On the other hand, Bill Cox from Carey Cox Company represented the buyer during the deal.
On the Map
Office
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McKinney Office Market Snapshot
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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