Texas Oncology Secures 35,000 Square Feet Medical Office Lease In Webster With CBRE Representation
Building Size
35,000 SF
Asset Type
Medical Office
Closing
Dec 4, 2024
AI
A 35,000-square-foot medical office lease was secured for Texas Oncology at Webster Town Center, located at the southeast corner of Interstate 45 and Texas Avenue in Webster, TX. This property is designed to accommodate medical practices and is situated in a market conducive to healthcare services.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not disclosed
- Address: SEC of Interstate 45 & Texas Avenue
- Market: Webster
- Tenant: Texas Oncology
- Landlord's Representative: Kevin Sims & Nick Ramsey - NewQuest Properties
- Tenant's Representative: Lindsay Arbour & Nelson Udstuen - CBRE
Kevin Sims and Nick Ramsey of NewQuest Properties represented the landlord in this transaction, while the tenant, Texas Oncology, was represented by Lindsay Arbour and Nelson Udstuen from CBRE. Their collaboration facilitated the successful leasing of the medical office space in the Webster market.
Players
Market 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