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
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