facebook

traded

+ Submit
Home

/

Deals

/

Texas

/

Office

/

Sale

/

2828 North Harwood Street

John Grassi Of Spear Street Capital Acquires Harwood No. 4 Office Building In Dallas
SOLDOffice

John Grassi Of Spear Street Capital Acquires Harwood No. 4 Office Building In Dallas

2828 North Harwood Street

Building Size

239,316 SF

Asset Type

Office

Closing

Apr 10, 2025

AI

The Harwood No. 4 office building, located at 2828 North Harwood Street in Dallas, boasts an asset type of office and encompasses a total of 239,316 square feet. The property was acquired through a foreclosure auction, with the purchase price remaining undisclosed. Previously valued at $80.8 million, plans for the building include significant renovations as part of its redevelopment. HPI Real Estate Services & Investments has been appointed as the leasing agent for this property.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Undisclosed
  • Square Footage: 239,316
  • Address: 2828 North Harwood Street
  • Market: Dallas
  • Buyer: John Grassi - Spear Street Capital

John Grassi represents Spear Street Capital in the acquisition of the property. The firm is set to implement extensive renovations at the building, aiming to enhance its appeal in the Dallas market.

Players

John Grassi

Spear Street Capital

Buyer

$553.9M

vol

9 deals

Buyer

Dallas Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

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