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
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