Oil And Gas Firm Acquires Irving Office Campus From Hangover Opportunity Fund LLC
6301 Campus Cir Dr E, Irving, TX, 750...
Building Size
66,885 SF
Asset Type
Office
Closing
Nov 22, 2023
About this deal
AI
The three-building, 66,885-square-foot office campus located at 6301, 6321 and 6341 Campus Circle Drive in Irving, Texas has been sold by Hangover Opportunity Fund LLC to an undisclosed oil and gas firm. The property, situated on 4.6 acres just outside Dallas-Fort Worth International Airport, recently underwent a $350,000 capital improvements program.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Undisclosed
- Market: Irving
- Buyer: Undisclosed oil and gas firm
- Buyer's Rep: Zack Stevens(NAI Capital)
- Seller: Hangover Opportunity Fund LLC
- SF: 66,885
Matt Hurlbut of Transwestern represented the seller in the transaction, while the buyer was represented by Zack Stevens of NAI Robert Lynn. The sale was an all-cash deal, with the property having received renovations including repairs to foundations and underground plumbing, landscaping revamps, and the creation of new office suites.
Players
Irving Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas office sales on Traded.
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