Updated Oct 29, 2024
Chevron Acquires 77-Acre Development Site In Cypress, Texas For Potential Research And Development Campus
Building Size
—
Asset Type
Development Site
Closing
Sep 5, 2023
About this deal
AI
Chevron has purchased approximately 77 acres in Cypress, Texas, from the Howard Hughes Corporation. The property is located within the Bridgeland development and is a development site. The purchase was made for a potential research and development campus.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: Cypress
- Market: Cypress
In this transaction, Chevron's representatives were Mike Wirth and Daniel Abate, while the Howard Hughes Corporation was represented by Jim Carman. The sale of the property provides Chevron with the opportunity to create a research and development campus in Cypress, Texas.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale 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