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10713 West Sam Houston Pkwy...

Patterson-UTI Energy Leases 52000 Square Feet From Sun Life Assurance Co In Houston
LEASEDOffice

Patterson-UTI Energy Leases 52000 Square Feet From Sun Life Assurance Co In Houston

10713 West Sam Houston Pkwy N, Ho...

Building Size

52,000 SF

Asset Type

Office

Closing

May 23, 2017

AI

The property involved in this transaction is located at 10713 West Sam Houston Pkwy N, Houston. Patterson-UTI Energy is expanding its headquarters, increasing its footprint to 52,000 square feet.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 10713 West Sam Houston Pkwy N, Houston
  • Market: Houston
  • Square Feet: 52,000
  • Tenant: Patterson-UTI Energy
  • Landlord: Sun Life Assurance Co
  • Tenant's Representatives: Liz Westcott-Brown - NAI Partners, Dan Boyles - NAI Capital

In this transaction, the landlord, Sun Life Assurance Co., was represented by Brad Frick from Stream. The tenant's representatives played a key role in facilitating the expansion of Patterson-UTI Energy’s headquarters.

Players

Dan Boyles

Partners Real Estate

Broker

19 deals

Broker
SC
Sun Life Assurance CoLandlord

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