Houston Recovery Center Leases Office Space At 1500 McGowen Street In Houston, TX
1500 McGowen St Houston, TX 77004, USA
Building Size
6,788 SF
Asset Type
Office
Closing
Apr 1, 2023
AI
The Houston Recovery Center, represented by brokers Ryan Hartsell and Perry Mazzone of Oxford Partners, has leased 6,788 square feet of office space at 1500 McGowen Street in Houston, Texas. The Inner Loop River Oaks submarket location makes it a prime spot for the center's operations.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not available
- Address: 1500 McGowen Street, Houston, TX
- Market: Houston
- Landlord: Davis Holdings LP
- Tenant: Houston Recovery Center, LGC
- Brokers: Ryan Hartsell & Perry Mazzone - Oxford Partners
Kate Davis, representing Davis Holdings, acted as the landlord in this transaction. The lease represents a significant move for the Houston Recovery Center, providing ample office space for their operations.
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