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15415 Katy Freeway

Hargrove Engineers & Constructors Signs 80,500 SF Lease In Houston Energy Corridor
LEASEDOffice

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

Charlie Neuhaus

Partners Real Estate

Broker

6 deals

Broker
Fuller Realty Interests
Fuller Realty InterestsLandlord

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