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
About this deal
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.
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Office
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Texas Office Market Snapshot
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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