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7501 Esters BLVD, Irving, T...

Updated Oct 29, 2024

Bilt advertisement
Stanton Road Capital Acquires 176700 SF Property In Irving Texas With Newmark's Chris Murphy, Gary Carr, John Alvarado As Seller's Representatives
SOLDOffice

Stanton Road Capital Acquires 176700 SF Property In Irving Texas With Newmark's Chris Murphy, Gary Carr, John Alvarado As Seller's Representatives

7501 Esters BLVD, Irving, TX, 75063

Building Size

176,700 SF

Asset Type

Office

Closing

Nov 19, 2023

About this deal

AI

Esters 114 Business Center is a 176,700-square-foot office complex located at 7501 Esters BLVD, Irving, TX, 75063. The property is situated in the Irving market and includes two buildings that were 91 percent leased at the time of the sale.

Summary of transaction details:

  • Property Type: Office Complex
  • Transaction Amount: Not Disclosed
  • Address: 7501 Esters BLVD, Irving, TX, 75063
  • Market: Irving
  • Square Footage: 176,700
  • Seller’s Representatives: Chris Murphy-Newmark, Gary Carr-Newmark, John Alvarado-Newmark
  • Buyer: Stanton Road Capital
  • Leasing Agent: Cushman & Wakefield

The transaction was facilitated by Chris Murphy, Robert Hill, Gary Carr, and John Alvarado from Newmark, representing the seller in the deal. Stanton Road Capital, a California-based investment firm, acquired the property and plans to have Cushman & Wakefield manage leasing activities moving forward.

Players

Gary Carr

Newmark

Broker

$432.8M

vol

36 deals

Broker
Stanton Road Capital
Stanton Road CapitalBuyer

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

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