Piedmont Office Realty Trust Acquires Office Building In Dallas For $395.0M
13155 Noel Road, Dallas, TX, USA
Building Size
1,400,000 SF
Asset Type
Office
Closing
Feb 11, 1920
AI
The office property located at 13155, 13455, and 13355 Noel Rd. in Dallas was recently sold in a transaction that took place on February 12, 2020. The property is situated in the Inwood market and covers an area of 1,400,000 square feet. The sale price per square foot was $282.86.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $282.86 per square foot
- Buyer: Piedmont Office Realty Trust - C. Brent Smith
- Seller: CBRE Global Investors - Chuck Leitner
Piedmont Office Realty Trust, represented by C. Brent Smith, acquired the office property from CBRE Global Investors, represented by Chuck Leitner.
Players
Dallas 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