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
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