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1700 City Plaza Dr, Spring,...

Evonik Industries Leases 9,617 SF Office Space At City Place 1, Houston
LEASEDOffice

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

William Padon

CBRE

Broker

10 deals

Broker
CH
CDC HoustonLandlord

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