Houston Methodist Leases 75,800 SF Office Space At 1840 Dynamic Way In Houston
Building Size
75,800 SF
Asset Type
Office
Closing
Jan 30, 2024
AI
The recently closed lease transaction involved an office space located at 1840 Dynamic Way in Houston. The property spans across 75,800 square feet and is owned by Fred Seigel of Beacon Capital Partners.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 1840 Dynamic Way
- Market: Houston
- Square Footage: 75,800
Marc L. Boom, representing Houston Methodist, secured the lease for this space. Houston Methodist joins Baylor College of Medicine as one of the major tenants at Dynamic One, a 355,000-square-foot building located in Texas Medical Center's Helix Park. This facility is primarily used for biomedical research labs and contributes to the growing life sciences ecosystem in Houston.
Players
Market 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