7000 W William Cannon Dr
7000 W William Cannon Dr, Austin, TX...
Building Size
136,075 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
Menlo Properties, based in California, has acquired 7000 West at Lantana, an office complex located at 7000 W William Cannon Dr, Austin, TX. The property spans 136,075 square feet and was originally constructed in 1999 as a part of the Lantana master-planned community. The previous owner, Dallas-based Starwood Capital Group, completed the transaction for an undisclosed price.
Summary of transaction details:
- Property Type: Office Complex
- Transaction Amount: Undisclosed
- Square Footage: 136,075
- Address: 7000 W William Cannon Dr, Austin, TX
- Market: Austin
- Seller's Representatives: Celeste Fowden, Mike McDonald, Ryan Stevens
- Buyer: Menlo Properties
The deal was brokered by Celeste Fowden, Mike McDonald, and Ryan Stevens from Cushman & Wakefield, who represented the seller in this transaction. The acquisition marks another investment for Menlo Properties in the Austin market, further expanding their portfolio in the region.
Players
Austin 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