Dallas Multi-Tenant Office

109-333 Kirby St. is a 96,000 SF multi-tenant office/warehouse facility in Garland, TX, located just outside Dallas. The property is comprised of four (4) buildings with twelve (12) 2,000 sf units in each building. Many tenants have combined units, but most tenants occupy 2,000 sf. Each unit has an overhead grade level loading door. The property is approximately 95% leased with approximately 70% of the leases having longer terms beyond maturity of the loan. The property currently has a trailing 12-month net operating income of approximately $260,000. The borrower plans to spend $200,000 to upgrade the property, sign additional tenants to long-term leases and then transition to marketing the property for sale.

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  • Property Type Office
  • PurposeRefinance
  • Gross Annual Coupon10.00%
  • Loan Amount$2,000,000
  • Loan to Value56.7%

Dallas, Texas

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