Newmark Brokers Acquire 673,150 SF Office Space On LBJ Freeway In North Dallas
3010 Lyndon B Johnson Freeway, Dallas, Texas 75234, United States
Building Size
673,150 SF
Asset Type
Office
Closing
Jun 16, 2022
AI
Two office buildings located at 3010 & 3030 LBJ Freeway in North Dallas have been sold in a recent transaction. The properties have a combined square footage of 673,150 and sit on approximately 7 acres of land. The sale was facilitated by brokers Gary Carr, Chris Murphy, Robert Hill, and Chase Tagen from Newmark. The transaction took place on 06/17/2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 3010 & 3030 LBJ Freeway
- Location: North Dallas
- Square Footage: 673,150
- Land Size: 7 acres
In addition to the brokers from Newmark, mortgage brokers David Milestone, Brett Green, and Josh Francis also played a role in the transaction. No further details about the mortgage or loan amount have been provided.
Players
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