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200 South Nursery Road

STRIVE Sells Irvingate Center To California-Based Investor
SOLDRetail

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

Hudson Lambert

Summit RE

Broker

19 deals

Broker

Irving Retail Market Snapshot

Boundary boundary · Retail · 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