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16340 Park Ten Pl Houston, ...

Accesso Leases 52,035 SF Office Space To IHI Energy Solutions, Petrofac And Others In Houston
LEASEDOffice

Accesso Leases 52,035 SF Office Space To IHI Energy Solutions, Petrofac And Others In Houston

16340 Park Ten Pl Houston, Tx 77084, Usa

Building Size

52,035 SF

Asset Type

Office

Closing

Jul 31, 2023

AI

The office property located at 16340 Park Ten Plaza and 3900 Essex Lane in Houston has been leased. The property spans a total of 52,035 square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not available
  • Address: 16340 Park Ten Plaza, 3900 Essex Lane
  • Market: Houston

The landlord for this lease is Accesso, represented by Michael Adams. The tenants for this property include IHI Energy Solutions, Petrofac, Buffalo Bayou Resources, KDDI America, and RBN Energy.

Accesso has reported strong leasing activity in its Houston properties, signing nearly 60,000 square feet in lease agreements during the first five months of the year. This includes new leases, expansions, and renewals from well-established firms in the energy, telecommunications, and financial sectors. The successful leasing activity showcases Accesso's strong presence and success in the Houston market.

Players

Accesso
AccessoLandlord

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