Local Private Investment Group Acquires Fully Leased Retail Center In Rowlett, Texas
3801 Lakeview Parkway
Building Size
28,119 SF
Asset Type
Retail
Closing
Oct 18, 2023
AI
Local investment firm Standridge Cos. has sold the Expo Center, a fully leased 28,119-square-foot shopping center located at 3801 Lakeview Parkway in Rowlett, Texas. The property, situated on 3.4 acres of land, was sold to a local private investment group. The deal was facilitated by CBRE's brokers, Jared Aubrey and Michael Austry.
Summary of transaction details:
- Property Type: Retail
- Square Footage: 28,119
- Acres: 3.4
- Address: 3801 Lakeview Parkway
- Market: Rowlett
- Seller: Standridge Cos - Stacy O Standridge
- Brokers: Jared Aubrey & Michael Austry - CBRE
The Expo Center, a fully leased shopping center in Rowlett, Texas, has been bought by a local private investment group. Standridge Cos., a local investment firm, acted as the seller. The transaction was handled by CBRE's brokers, Jared Aubrey and Michael Austry.
Players
Rowlett 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