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1000 Main St, Houston, TX, USA

Shell Oil Co. Leases 259,000 SF Office Space In Houston's 1000 Main St With Landlord's Rep Wade Bowlin - Madison Marquette
LEASEDOffice

Shell Oil Co. Leases 259,000 SF Office Space In Houston's 1000 Main St With Landlord's Rep Wade Bowlin - Madison Marquette

1000 Main St, Houston, TX, USA

Building Size

259,000 SF

Asset Type

Office

Closing

Nov 3, 2021

AI

An office building located at 1000 Main St in Houston has been leased. The property spans approximately 259,000 square feet and is owned by Union Investment.

Summary of transaction details

  • Property Type: Office
  • Transaction Date: November 3, 2021
  • Address: 1000 Main St, Houston
  • Market: Houston
  • Tenant: Shell Oil Co.
  • Landlord: Union Investment

The leasing transaction was facilitated by Wade Bowlin from Madison Marquette representing the landlord, Union Investment. On behalf of the tenant, Shell Oil Co., Tim Relyea and Joseph Peddie from Cushman & Wakefield represented the tenant in the deal.

Players

Wade Bowlin

Broker

2 deals

Broker
Union Investment
Union InvestmentLandlord

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