CCI-Lakeside, LP

Asset type: Office Building · Location: Lewisville, Texas

CCI is acquiring this 9-year-old building in a superior Dallas location from B of A, post foreclosure. The Property has an estimated replacement cost of $26.3M ($325 / SF) and its last sale price was $19.1M ($236/SF) in September 2016. CCI’s acquisition price is $7.375M ($91/SF), equal to 39% of the last sale price, and 28% of replacement cost. Property has 290,000 vehicles per day combined freeway traffic count within 2,000 feet. A +/-30% cash-on-cash is projected after Property reaches full occupancy (in-place occupancy is 76.4% with a Weighted Average Lease Term of 4.4 years). Current rents in the building are $17.61 to $21.00 / SF NNN (as of March 2025). CCI plans to advertise vacant space for $16.50 / SF NNN, but expects to sign leases between $17.50 and $19.50 / SF NNN. We are excited to offer investors an estimated 27.7% Net IRR and 2.08x multiple on invested capital.