Gulf Companies Leases 52,148 SF Office Space In Houston's Eldridge Oaks Building
1080 Eldridge Pkwy Houston, TX 77077, USA
Building Size
52,148 SF
Asset Type
Office
Closing
Jul 14, 2023
AI
Global engineering firm Gulf Companies will establish its new headquarters in Houston's Eldridge Oaks office building, leasing a 52,148-square-foot space. The move, planned for April 2024, marks a downsizing for Gulf, which currently occupies a larger location.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 52,148
- Address: 1080 Eldridge Parkway, Houston
- Tenant: Gulf Companies
- Brokers: Brad Fricks & Matt Asvestas - Stream Realty Partners
Gulf Companies, a global engineering firm, will be moving its headquarters to Houston's Eldridge Oaks office building. The company has decided to lease a 52,148-square-foot space in the building, with the relocation planned for April 2024. Gulf Companies is downsizing from its current, larger location.
Players
Texas 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