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16479 Dallas Pkwy, Addison,...

Creighton Stark Of Colliers International Represents Seller In Sale Of Addison Property At $166,000
SOLDOffice

Creighton Stark Of Colliers International Represents Seller In Sale Of Addison Property At $166,000

16479 Dallas Pkwy, Addison, TX, 75001

Building Size

166,000 SF

Asset Type

Office

Closing

Nov 4, 2019

AI

The property involved in this transaction is an eight-story office building known as Bent Tree Tower II, located at 16479 Dallas Pkwy, Addison, TX, 75001, within the Addison market. The building encompasses 166,000 square feet of space. The transaction was brokered by Colliers International for an undisclosed price.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: Undisclosed
  • Address: 16479 Dallas Pkwy, Addison, TX, 75001
  • Market: Addison
  • Square Footage: 166,000 SF
  • Seller: Regent Properties
  • Buyer's Representative: Unknown
  • Seller's Representative: Creighton Stark, Colliers International

Colliers International represented the seller Regent Properties, which invested $4.7 million in capital improvements prior to the sale. The partnership formed by Hudson Peters Commercial acquired the property. Energy firm Forney Corp. is the anchor tenant of Bent Tree Tower II.

Players

Creighton Stark

Colliers

Broker

9 deals

Broker

Addison 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