Evonik Industries Leases 9,617 SF Office Space At City Place 1, Houston
1700 City Plaza Dr, Spring, TX, 77389
Building Size
9,617 SF
Asset Type
Office
Closing
Nov 22, 2023
AI
The office building located at 1700 City Plaza Dr, Spring, TX, 77389 in Houston has seen recent leasing activity. The property, known as City Place 1, spans 149,500 square feet and has attracted new tenants, including Orion Engineered Carbons, Evonik Industries, and Huckabee & Associates. Evonik Industries leased 9,617 square feet on the fifth floor of the building, joining the other tenants in this bustling office space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not available
- Tenant: Evonik Industries
- Tenant's Rep: William Padon (CBRE)
- Landlord: CDC Houston
- Square Feet: 9617
Key individuals involved in these recent leasing deals include William Padon from CBRE, who represented Evonik Industries in the negotiation process. The landlord, CDC Houston, was represented by Chrissy Wilson, Matt Pruitt from JLL, and Phillip Moore and Dennis Tarro from Patrinely Group. All parties involved anticipate the tenants moving in before the close of the year, adding to the vibrancy of the City Place 1 office building.
Players
Houston Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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