3431 BROADWAY BLVD. GARLAND TX 75043
Summary
This was the Buyer’s up-leg/exchange property in 1031 exchange. We were able to find and help secure this up-leg within the Buyer’s stated parameters, for a ground lease interest with Citibank as the long-term tenant, resulting in a seamless 1031 exchange.
Agent(s) Involved: Shawn Jass
Agency/Representation: Buyer
Transaction Details
| Status: | Closed |
| COE Date: | 5/20/2007 |
| Price: | $1,565,000 |
| Cap Rate: | 5.75% |
| Tenant(s): | Citibank |
| Year Built: | 2007 |
| Bldg. Size: | 45,858 SF |
| Lot Size: | 40,881 SF |
| Lease Term | 15 year NNN Ground Lease |
| Renewal Options: | Three (3) Five (5) Year Terms |