Key Energy Services Leases 19968 Square Feet From BSD I TX 1500 Citywest LLC In Houston
1500 CityWest BLVD, Houston, TX, 77...
Building Size
19,968 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
The lease transaction involved a 19,968-square-foot office space located at 1500 CityWest Blvd, Houston, TX. The property is situated in the Houston market and serves as the new office for Key Energy Services.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1500 CityWest Blvd, Houston, TX
- Square Feet: 19,968
- Tenant: Key Energy Services
- Landlord: BSD I TX 1500 Citywest LLC
- Tenant's Representative: Dan Boyles-NAI Capital
- Landlord's Representatives: Scott Fikes and Jack Russo-JLL
NAI Partners represented Key Energy Services in the lease deal while JLL's Scott Fikes and Jack Russo represented the landlord, BSD I TX 1500 Citywest LLC. Key Energy Services is headquartered in Houston and provides energy production solutions and services.
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