Hargrove Engineers & Constructors Signs 80,500 SF Lease In Houston Energy Corridor
15415 Katy Freeway
Building Size
80,500 SF
Asset Type
Office
Closing
Jun 21, 2023
AI
The property asset involved in this transaction is an office space located at 15415 Katy Freeway in Houston. It encompasses a total area of 80,500 square feet and is situated within a significant market known as Houston's Energy Corridor.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: N/A
- Address: 15415 Katy Freeway
- Market: Houston
- Asset Size: 80,500 SF
- Landlord: Fuller Realty Interests LLC
- Tenant: Hargrove Engineers & Constructors
- Broker: Charlie Neuhaus - Partners
Key individuals involved in the lease include Johnny Kight representing the landlord Fuller Realty Interests LLC and Kyle Chalmers representing the tenant Hargrove Engineers & Constructors. The transaction indicates a transition as Hargrove Engineers & Constructors takes over the space formerly occupied by Diamond Offshore Drilling.
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