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1401 McKinney St, Houston, ...

Ernst & Young Leases 120827 Square Feet At 1401 McKinney St Houston From Spear Street Capital
LEASEDOffice

Ernst & Young Leases 120827 Square Feet At 1401 McKinney St Houston From Spear Street Capital

1401 McKinney St, Houston, TX, 77010

Building Size

120,827 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

The property involved in this transaction is located at 1401 McKinney St, Houston, TX, 77010, within the Houston market. The leased space spans 120,827 square feet and reflects the specific needs of the tenant.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Square Feet: 120,827
  • Tenant: Ernst & Young
  • Landlord: Spear Street Capital
  • Tenant's Representatives: Glenn Dyke - CBRE, Jeff Cairns - CBRE

This transaction features key stakeholders including Ernst & Young as the tenant, Spear Street Capital representing the landlord, and Glenn Dyke and Jeff Cairns from CBRE acting on behalf of the tenant.

Players

Glenn Dyke

CBRE

Broker

2 deals

Broker
Spear Street Capital
Spear Street CapitalLandlord

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