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4015 Interstate 45 N, Willi...

Conroe Willis Family Medicine Renews Medical Office Lease In Conroe, Texas
LEASEDMedical Office

Conroe Willis Family Medicine Renews Medical Office Lease In Conroe, Texas

4015 Interstate 45 N, Willis, TX, 77318

Building Size

19,764 SF

Asset Type

Medical Office

Closing

Nov 22, 2023

AI

The property asset involved in this transaction is a medical office located at 4015 Interstate 45 N, Willis, TX, 77318, within the Conroe market. The asset encompasses a total size of 19,764 square feet, as part of the League Line Medical Office Building, which has an overall area of 59,222 square feet. This location is approximately 40 miles north of Houston.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: Not specified
  • Landlord: Diversified Healthcare Trust
  • Landlord's Representative: Sara Carter - Transwestern Commercial Services
  • Lease Area Renewed: 15,055 square feet
  • Additional Lease Area Taken: 4,709 square feet
  • Total Lease Area: 19,764 square feet

Conroe WillIs Family Medicine has signed a lease renewal and expansion for the stated medical office space. Sara Carter of Transwestern represented the landlord, Diversified Healthcare Trust, during the lease negotiations, facilitating the deal for the healthcare practice.

Players

Sara Carter

Transwestern

Broker

2 deals

Broker
Transwestern
TranswesternBrokerage

Conroe Medical Office Market Snapshot

Boundary boundary · Medical Office · 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