STRIVE Sells Irvingate Center To California-Based Investor
200 South Nursery Road
Building Size
29,962 SF
Asset Type
Retail
Closing
Jun 30, 2023
AI
Irvingate Center, a 29,962-square-foot retail center in Irving, has been sold by STRIVE, a real estate agency, to a California-based investor. At the time of the sale, the property was 86 percent leased.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 200 South Nursery Road
- Market: Irving
- BROKERS: Hudson Lambert & Jason Vitorino - STRIVE
The deal was facilitated by Hudson Lambert and Jason Vitorino, representatives of STRIVE. The transaction marks a successful venture for both the seller and the buyer, as the retail center was highly occupied at the time of the sale.
Players
Irving Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
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