Orion Group Holdings Leases 63,500 SF At Midway's East River In Houston
100 Jensen Drive
Building Size
63,500 SF
Asset Type
Office
Closing
Jun 11, 2024
AI
The office space leased by Orion Group Holdings at Midway's East River development in Houston spans 63,500 square feet. The property is located at 100 Jensen Drive, and with this new lease, the occupancy rate of the project's first phase has reached 95%.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 100 Jensen Drive
- Market: Houston
- Tenant: Travis Boone - Orion Group Holdings
- Landlord: Midway
- Landlord's Representative: Amanda Nebel - Parkway Properties
- Tenant's Representatives: Bill Boyer & Collin Grimes - CBRE
Orion Group Holdings will be consolidating its three Houston offices into this new space in the upcoming year. The lease brings Orion together with other businesses like Port Houston, Anton Paar USA, and Suderman & Young at the mixed-use development within Midway's East River project.
Players
Houston Office Market Snapshot
Boundary boundary · 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