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1801 N Lamar St Dallas, TX ...

Slingshot Advertising Acquires Historic Landmark Center In Dallas' West End District
SOLDOffice

Slingshot Advertising Acquires Historic Landmark Center In Dallas' West End District

1801 N Lamar St Dallas, TX 75202, USA

Building Size

140,317 SF

Asset Type

Office

Closing

Aug 9, 2023

AI

The historic Landmark Center in Dallas' West End district has been purchased by a venture led by Slingshot Advertising CEO Owen Hannay. The 140,317-square-foot office building, located at 1801 North Lamar Street, was sold by Spear Street Capital. The property, which was approximately 80% leased at the time of the sale, underwent renovations by the previous owner.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Square Footage: 140,317 SF
  • Address: 1801 North Lamar Street
  • Market: Dallas

Slingshot Advertising, represented by Owen Hannay, led the purchasing venture for the Landmark Center. The deal was facilitated by JLL, who acted as the broker in the transaction. First Liberty Bank provided a $7 million loan to finance the acquisition.

Players

Owen Hannay

Buyer

2 deals

Buyer
Spear Street Capital
Spear Street CapitalSeller
First Liberty Bank
First Liberty BankLender

Dallas 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