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
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