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
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