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4000 Horizon Way

Paul Ellis' Foundry Commercial Acquires 287,000-Square-Foot Office Building In Irving
SOLDOffice

Paul Ellis' Foundry Commercial Acquires 287,000-Square-Foot Office Building In Irving

4000 Horizon Way

Building Size

287,000 SF

Asset Type

Office

Closing

Jan 2, 2024

AI

Foundry Commercial, represented by Paul Ellis from Foundry Commercial, has acquired a 287,000-square-foot office building located at 4000 Horizon Way in Irving. The property spans across 24.2 acres in the Irving market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 287,000
  • Address: 4000 Horizon Way
  • Market: Irving
  • Buyer: Paul Ellis - Foundry Commercial

Foundry Commercial plans to convert the acquired office building into a 337,000-square-foot industrial facility. Construction for this project will commence in the first quarter. The conversion will provide additional space for industrial operations in the area.

Players

Foundry Commercial
Foundry CommercialBrokerage

Paul Ellis

Buyer

$184.3M

vol

8 deals

Buyer

Irving 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