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5301 Headquarters Drive, Pl...

Drawbridge Realty Trust Acquires 248,861 SF Office Building In Plano For $Undisclosed
SOLDOffice

Drawbridge Realty Trust Acquires 248,861 SF Office Building In Plano For $Undisclosed

5301 Headquarters Drive, Plano, Texas 75024, United States

Building Size

248,861 SF

Asset Type

Office

Closing

Jun 14, 2022

AI

A 248,861 square foot office property located at 5301 Headquarters Drive in Plano was recently sold in a closed transaction. The sale took place on June 15th, 2022, with Drawbridge Realty Trust's Charlie McEachron acting as the buyer and Cawley Partners as the seller. The property was represented by Chris Murphy, Gary Carr, Robert Hill, and Chase Tagen from Newmark.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 5301 Headquarters Drive, Plano
  • Market: Plano
  • Square Footage: 248,861

The sale of this office property at 5301 Headquarters Drive in Plano involved Drawbridge Realty Trust as the buyer and Cawley Partners as the seller. The deal was facilitated by Chris Murphy, Gary Carr, Robert Hill, and Chase Tagen from Newmark. Additional details about the transaction, such as the sale price, were not provided.

Players

Gary Carr

Newmark

Broker

$352.5M

vol

33 deals

Broker

Charlie McEachron

Buyer

$77.9M

vol

3 deals

Buyer
CP
Cawley PartnersSeller

Plano 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