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1501 Lyndon B Johnson Fwy F...

Haggar Clothing Co. Renews 40,000 Sq Ft Lease At Park West, Farmers Branch
LEASEDRetail

Haggar Clothing Co. Renews 40,000 Sq Ft Lease At Park West, Farmers Branch

1501 Lyndon B Johnson Fwy Farmers Branch, TX 75234, USA

Building Size

40,000 SF

Asset Type

Retail

Closing

Aug 25, 2023

AI

Haggar Clothing Co. has renewed its lease for a 40,000-square-foot office space at Park West in Farmers Branch. The property, located at 1501-1507 Lyndon B Johnson Fwy, is owned by Pratt Street Capital. The lease renewal was facilitated by brokers Grant Sumner and Taylor Lynch of Forge Commercial.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not provided
  • Square Footage: 40,000
  • Address: 1501-1507 Lyndon B Johnson Fwy
  • Market: Farmers Branch

Haggar Clothing Co. decided to renew their lease at Park West, citing upcoming renovations and improved amenities as reasons for staying. This decision aligns with the growing trend of companies prioritizing attractive office spaces to retain employees in the evolving work environments. The commitment to renovating the property and enhancing the amenities contributed to Haggar Clothing Co.'s decision to remain at Park West.

Players

Grant Sumner

Forge Commercial

Broker

4 deals

Broker

David Braunstein

Pratt Street Capital

Landlord

2 deals

Landlord

Sheridan 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