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
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