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2005 West Park Drive

Irving Hospital Authority Acquires Baylor Irving MOB III In Irving, Texas With CBRE's Assistance
SOLDOffice

Irving Hospital Authority Acquires Baylor Irving MOB III In Irving, Texas With CBRE's Assistance

2005 West Park Drive

Building Size

54,941 SF

Asset Type

Office

Closing

Feb 14, 2024

AI

The Irving Hospital Authority has acquired Baylor Irving MOB III, an office property located at 2005 West Park Drive in Irving, Texas. The property, spanning 54,941 square feet and sitting on 5.2 acres, was sold by Amer Hammour of Madison Marquette. This Class A, three-story building is strategically positioned near Baylor Scott & White Medical Center and is leased by five tenants. Its prime location, less than 13 miles from downtown Dallas, adds to its appeal.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Square Footage: 54,941
  • Address: 2005 West Park Drive
  • Market: Irving

The transaction was facilitated by CBRE, with Christopher Bodnar, Cole Reethof, Matt Murphy, Michael Dewey, Russell Ingrum, Scott Herbold, Trent Jemmett, Zack Holderman, and Jesse Greshin representing the seller. The acquisition of Baylor Irving MOB III brings the Irving Hospital Authority closer to expanding its healthcare presence, benefiting from the property's proximity to other medical facilities and its ample space for outpatient services.

Players

Christopher Bodnar

CBRE

Broker

$2.6B

vol

24 deals

Broker

Irving 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