Dallas's Alpha Plaza Signs Leases For Sherlock’s Escape Rooms And The Aussie Grind Provisions In Farmers Branch
4885 Alpha Road
Building Size
6,977 SF
Asset Type
Retail
Closing
Nov 20, 2023
AI
Dallas's Alpha Plaza has signed leases for two retail spaces located at 4885 Alpha Road in Farmers Branch. The total square footage of the leased spaces is 6,977, with Sherlock’s Escape Rooms leasing 4,800 square feet and The Aussie Grind Provisions leasing 2,177 square feet.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Not mentioned
- Address: 4885 Alpha Road
- Market: Farmers Branch
- Landlord: Kennington Alpha Plaza LLC
- Tenant 1: Sherlock’s Escape Rooms - Steve Maki
- Tenant 2: The Aussie Grind Provisions - Angie Monforte & Lui Monforte
- Brokers: Erik Blais & Melanie Hughes - Bradford Commercial Real Estate Services
Erik Blais and Melanie Hughes of Bradford Commercial Real Estate Services facilitated the leases on behalf of the landlord, Kennington Alpha Plaza LLC.
Players
Dallas 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