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
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