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
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