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10350 Richmond Avenue

Franklin Street Properties Leases Office Space To Drilling Tools International And Others In Houston
LEASEDOffice

Franklin Street Properties Leases Office Space To Drilling Tools International And Others In Houston

10350 Richmond Avenue

Building Size

50,020 SF

Asset Type

Office

Closing

Sep 3, 2024

AI

The property located at 10350-10370 Richmond Avenue in Houston features an office space totaling 50,020 square feet. This asset is part of The Towers at Westchase and offers various amenities. The landlord of the property is Franklin Street Properties, which has secured multiple leases for 2024, including notable tenants in the area.

Summary of transaction details:

Stream Realty Partners has played a significant role in securing over 50,000 square feet in new leases at the property for the year 2024. The specific tenant allocations include Drilling Tools International, PhiloWilke Partnership, and BCS Systems, among others, each represented by various agents from JLL, CBRE, and Park Realty.

Players

Matthew Seliger

Stream Realty Partners⁠

Broker

5 deals

Broker
Transwestern
TranswesternBrokerage

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