West Gulf Maritime Associates Leases 14,089 SF Office Space At 1717 Turning Basin, Houston
1717 Turning Basin Dr Houston, TX 77029, USA
Building Size
14,089 SF
Asset Type
Office
Closing
May 5, 2023
About this deal
AI
Aston OB Turning Basin, LLC has leased 14,089 SF of office space at 1717 Turning Basin Drive in Houston. The property is located in the Houston market and is owned by Aston OB Turning Basin - Kamran Virani. The tenant, West Gulf Maritime Associates, is a company that provides services for Houston's maritime labor market. The lease transaction was facilitated by Ryan Hartsell of Oxford Partners, who represented the tenant, and Tara Oliver with Oliver CRE, who represented the landlord.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not disclosed
- Square Footage: 14,089 SF
- Address: 1717 Turning Basin Drive
- Market: Houston
Ryan Hartsell of Oxford Partners represented West Gulf Maritime Associates, the tenant, in the lease transaction. Tara Oliver with Oliver CRE represented the landlord, Aston OB Turning Basin, LLC.
Players
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