PhiloWilke Partnership Leases 14,729 Square Feet At The Towers At Westchase In Houston
10350 Richmond Avenue
Building Size
14,729 SF
Asset Type
Office
Closing
Sep 9, 2024
AI
The property asset involved in this transaction is an office space located at 10350 Richmond Avenue in Houston, Texas. The leased area comprises 14,729 square feet, situated in the Westchase District, an established business locale in the market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 14,729
- Address: 10350 Richmond Avenue
- Market: Houston
- Landlord: Franklin Street Properties
- Tenant: PhiloWilke Partnership
- Landlord's Representative: Brad Fricks & Matthew Seliger - Stream Realty Partners
- Tenant's Representative: Cody Little & Jordan Raney - JLL
PhiloWilke Partnership has engaged in a lease agreement for the office space, with representation provided to the landlord, Franklin Street Properties, by Brad Fricks and Matthew Seliger of Stream Realty Partners. Meanwhile, the tenant was represented by Cody Little and Jordan Raney from JLL throughout the leasing process.
Players
Houston Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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