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2301 North Greenville Avenue

John Carona Of Associa Acquires Office Properties In Richardson From EQT Exeter
SOLDOffice

John Carona Of Associa Acquires Office Properties In Richardson From EQT Exeter

2301 North Greenville Avenue & 1300 East Lookout Drive

Building Size

520,000 SF

Asset Type

Office

Closing

Jul 1, 2024

AI

The transaction involved the sale of two office properties located at 2301 North Greenville Avenue and 1300 Lookout Drive in Richardson, featuring a total square footage of 260,000. The properties were acquired by Associa, which will serve as its North Texas headquarters, from EQT Exeter.

Summary of transaction details:

This transaction marks a strategic expansion for Associa in North Texas, consolidating its operations with the purchase of these neighboring office properties. The brokerage teams assisting both parties were led by Clint Wallis representing Associa and Al Paniagua on behalf of EQT Exeter.

Players

Al Paniagua

Swearingen Realty Group

Broker

2 deals

Broker

Richardson 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