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425 South Kimball Avenue

Pillar Commercial And OliveMill Holdings Acquire Pinnacle Point Office And Industrial Campus In Southlake, Texas
SOLDOffice

Pillar Commercial And OliveMill Holdings Acquire Pinnacle Point Office And Industrial Campus In Southlake, Texas

425 South Kimball Avenue

Building Size

81,259 SF

Asset Type

Office

Closing

Sep 21, 2023

AI

OliveMill Holdings and Pillar Commercial, two local investors, have recently acquired the Pinnacle Point office and industrial campus in Southlake, Texas. This modern office/flex space, built in 2020, adds to their growing portfolio of properties. The campus, located at 425, 435 & 445 South Kimball Avenue, provides 81,259 square feet of prime business and residential space in a highly desirable community.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 425, 435 & 445 South Kimball Avenue
  • Market: Southlake
  • Size: 81,259 square feet

Pillar Commercial, represented by Manny Ybarra, and OliveMill Holdings, represented by Chris Selbo, joined forces to acquire this prominent office and industrial campus. The deal was facilitated by Parker McCormack of JLL, who served as the broker. The lender involved in the transaction was Security National Bank. This acquisition further establishes the buyers' presence in the local real estate market and expands their investment opportunities.

Players

Parker McCormack

JLL

Broker

7 deals

Broker
Security National Bank
Security National BankLender

Southlake 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