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1575 Heritage Drive, McKinn...

Avison Young Represents PAR Capital In Sale Of 48,304 SF Office Building In McKinney, TX
SOLDOffice

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

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.

Players

Bill Cox

Carey Cox Company

Broker

1 deal

Broker

McKinney Office Market Snapshot

Boundary boundary · Office · Sale 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