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.
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