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201 Ed Schmidt Blvd Hutto, ...

EVO Entertainment Group Leases 53.3K SF At Townwest Commons In Hutto
LEASEDRetail

EVO Entertainment Group Leases 53.3K SF At Townwest Commons In Hutto

201 Ed Schmidt Blvd Hutto, TX 78634, USA

Building Size

53,300 SF

Asset Type

Retail

Closing

Jul 10, 2023

AI

EVO Entertainment Group has leased 53,300 square feet of retail space at Townwest Commons in Hutto, as confirmed by NewQuest Properties. The property, located at 201 Ed Schmidt Boulevard, will be transformed into a cinema and entertainment venue, scheduled to open in 2024. This transaction highlights the increasing demand for entertainment options in the Hutto market.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: Not available
  • Square Footage: 53,300
  • Address: 201 Ed Schmidt Boulevard
  • Market: Hutto

Nathan Nickerson of Common Ground represented the tenant, EVO Entertainment Group, in securing this lease. His negotiations with the City of Hutto resulted in the acquisition of valuable incentives for the tenant. On the other side of the deal, Josh Friedlander and David Meyers acted on behalf of the landlord, NewQuest Properties, ensuring a successful transaction for all parties involved.

Players

Josh Friedlander

NewQuest Properties

Broker

4 deals

Broker
NewQuest Properties
NewQuest PropertiesLandlord

Texas Retail Market Snapshot

Boundary boundary · Retail · Lease 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