Corsair Property Co Acquires 230,000 SF Retail Property In Irving, Texas
3909 West Airport Freeway,Irving,Texas
Building Size
230,000 SF
Asset Type
Retail
Closing
Apr 12, 2023
About this deal
AI
The 230,000-square-foot Irving Market Center in Texas has been sold to Corsair Property Co. The property, built in 1987, is a retail asset located at 3909 West Airport Freeway in Irving. The shopping destination is anchored by popular retailers like Best Buy, Ross Dress for Less, and PetSmart. With a high occupancy rate of 98%, the center is almost fully leased. The price of the acquisition remains undisclosed, but this strategic move marks Corsair's expansion into the Dallas market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not disclosed
- Square Footage: 230,000
- Address: 3909 West Airport Freeway, Irving
- Market: Irving
JLL represented Corsair Property Co. in this transaction, acting as the buyer's broker.
On the Map
Retail
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Players
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