Pyramid Plaza LP Acquires 116,000 SF Office Building In Lubbock From Gemini Rosemont Real Estate
3223 South Loop 289, Lubbock, Texas 79423, United States
Building Size
116,000 SF
Asset Type
Office
Closing
Jun 30, 2022
About this deal
AI
The office property located at 3223 South Loop 289 in Lubbock has been sold in a transaction that took place on July 1, 2022. The property spans approximately 116,000 square feet and belongs to the asset type of Office. The sale was between Pyramid Plaza Office Building LP as the buyer and Gemini Rosemont Real Estate as the seller.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not mentioned
The buyer was represented by Jordan Wood & Taylor Tucker from Coldwell Banker Commercial, while Scott Womack & Darrell Betts from Avison Young acted as the seller's representatives.
On the Map
Office
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Players
Lubbock 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