Piedmont Office Realty Trust Leases 300000 Square Feet At 1414 Enclave Parkway In Houston
1414 Enclave Pkwy, Houston, TX, 77077
Building Size
300,000 SF
Asset Type
—
Closing
Nov 19, 2023
AI
A lease transaction has taken place involving a property located at 1414 Enclave Pkwy, Houston, TX, 77077. The total square footage of the property is 300,000 square feet, situated in the Houston market. The landlord is Piedmont Office Realty Trust.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 1414 Enclave Pkwy, Houston, TX, 77077
- Market: Houston
- Square Feet: 300,000
- Tenant: Unknown
- Landlord: Piedmont Office Realty Trust
- Tenant's Representative: Louie Crapitto-JLL, David Bales-Lee & Associates
- Landlord's Representatives: Connor Saxe-Cushman & Wakefield, Damian Miller-Piedmont Office Realty Trust, Damon Thames
The transaction includes several representatives involved in negotiating the lease, with the tenant represented by Louie Crapitto from JLL and David Bales from Lee & Associates. On the landlord's side, Connor Saxe from Cushman & Wakefield, Damian Miller from Piedmont Office Realty Trust, and Damon Thames played key roles in the negotiation process.
Players
Houston CRE Market Snapshot
Boundary boundary · CRE · 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