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
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