Norton Rose Fulbright Leases 375,000 SF Office Space In Houston
1550 Lamar Street, Houston, TX, USA
Building Size
375,000 SF
Asset Type
Office
Closing
Jan 14, 2021
AI
The leased property involved in this transaction is an office space located at 1550 Lamar Street in Houston. With a total area of 375,000 square feet, this asset is owned by Skanska and represented by Matt Damborsky. The tenant, Norton Rose Fulbright US LLP, has entered into a lease agreement for this space. The deal was facilitated by Jon Lee from CBRE.
Summary of transaction details:
- Property Type: Office
- Transaction Date: 01/15/2021
- Address: 1550 Lamar Street
- Market: Houston
- Tenant: Norton Rose Fulbright US LLP
- Landlord: Skanska - Matt Damborsky
- Broker: Jon Lee - CBRE
The involvement of Norton Rose Fulbright US LLP as the tenant in this leasing deal showcases their expansion or relocation of their office space. This transaction highlights the commitment of Skanska and their representative, Matt Damborsky, in providing quality office spaces. Furthermore, the role played by Jon Lee from CBRE demonstrates their expertise in facilitating successful lease agreements.
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